Local support for alternative lender, from leading law firm’s Charitable Trust

Mathew Waddington HCR with Mike Lewis, Fredericks GloucestershireFredericks Gloucestershire is delighted to have received a £1,000 donation from Harrison Clark Rickerbys’ Charitable Trust, which will help their ongoing work making affordable business loans to those turned down for mainstream finance. 

Client Manager, Mike Lewis, works with local people who wish to start or grow a business, providing expert advice and support to those looking for a business loan. Once business plans and projections are ready, applicants get the opportunity to pitch their ideas to a panel of volunteers from other Gloucestershire businesses, who ultimately make the lending decision. Loans tend to average around £5,500, but can go up to £20,000 for established firms seeking a boost.

Mathew Waddington, Partner and Secretary to the Charitable Trust at Harrison Clark Rickerbys met Mike to present the donation (pictured).

“Harrison Clark Rickerbys Solicitors have long had an interest in Fredericks and recognise that this kind of support is vital in maintaining a healthy local business economy,” says Mathew. “Harrison Clark Rickerbys look forward to working with the successful business once up and running, in a mentoring or other support capacity.”

“It’s often this kind of input in the early stages that can make the difference between success and failure; and starting up a business can sometimes seem a daunting or lonely venture.”

The law firm regularly join other professional firms in offering free meeting space, panel members and mentoring, and it is this local business knowledge offered by committed volunteers that has made Fredericks such a success – boasting repayment rates that would be the envy of many banks.

Fredericks Gloucestershire is the local arm of the national charity Fredericks Foundation, which has been lending across the country in this way for well over a decade.

“Here in Gloucestershire we’ve lent over £1m to over 350 businesses,” says Mike Lewis. “From manufacturing to catering, dog grooming to launderettes, language schools to mobile valeting, from fine art framing to landscaping, you might be surprised how many of our clients, both new and fully repaid, have a presence on the high street in towns and villages across the county.

“But it is only with this kind of support that we can afford to keep lending in this way, and we believe that now the banks are unable to help small business as they used to, we’re a vital part of a healthy local economy.”

To find out more information about loans, donations, mentoring opportunities or other ways to get involved, please contact Fredericks Gloucestershire on glos@fredericksfoundation.net, or 01242 242 555.

To find out more please contact:

Clare Farquhar            T: 01531 640256         clare@whitefootpr.co.uk

Kabbie Langford         T: 07940 371794         kabbie@whitefootpr.co.uk