Unlock your Future
Our mission is to alleviate poverty through work, by providing microfinance to the disadvantaged. Thus enabling people to achieve the dignity and self-respect of supporting themselves; through enterprise. For many we are a last resort out of unemployment and from benefit-dependency.
June 2014 - January 2015
Charity information: Fredericks Foundation
For some time, there has been a large number of businesses that are too pessimistic about their chances of getting the finance they need from their bank to grow, understandably. - With the contraction of credit, and banks reluctance to lend to more marginal clients, the need for Fredericks has grown rapidly. Everyone deserves to work in a way that provides for them and their families, which adds to their wellbeing. Confidence can be the difference between success and failure.
Providing microfinance to the marginalised with strong business plans or existing businesses, helping not only them but others in to employment. It will empower them, inspiring others in their community to do the same.
To alleviate poverty through work, while improving people's confidence and self-esteem.
Activities» Fredericks provides affordable loans to emerging entrepreneurs turned down by the banks.
» Client Managers and mentors work closely with clients to make sure their businesses are successful.
Success will be...The number of jobs created in each community.
To promote small business and reinforce local communities through business growth.
Activities» For established business, Fredericks will provide loans up to £20,000. This can be to expand a business or as a bridging loan
Success will be...the number of businesses saved or new jobs created.
The project will reverse the dependency of individuals on government benefits and reduce the number of small enterprises going out of business. Thus unemployment numbers will be reduced through self employment and other employment opportunities. It will boost many individuals self-esteem. We will demonstrate success by monitoring the number of jobs created and jobs protected.
The main risk is the people will not pay back the loans. Fredericks conducts a thorough application and interview process to make sure that potential clients have a good business plan and understand the difficulties of starting their own business. Client Managers and mentors work closely with the clients to make sure they have support in the formative years of the business. If someone defaults on the loan, we make every attempt to collect. We then turn the case over to a professional collector.
Funders will receive a quarterly email report highlighting success stories, making them aware of any program changes and alerting them to any problems that might have been encountered. Funders will, where suitable, be invited to sit on lending panels and act as mentors when appropriate
Budget - Project Cost: £100,000Loading graph....
Amount Heading Description £70,000 Lending Pot Create funding for 20 business start-ups £30,000 Client Manager Fund a client manager for a year, to find and mentor 20 clients
We cover 18 counties across the country, as far west as Cornwall and as far North as Liverpool. We have 14 client managers covering the below areas -
Bristol & Bath
Isle of Wight
For every Fredericks loan it creates 1.75 jobs. So It doesn't just benefit the individual we loan to, it ultimately leads to the client employing staff. The positive impact on the clients families are huge, often the clients come to us below the poverty line, with us as a last resort after being turned down by banks.
We are the largest microfinance charity in the UK. With 12 years experience enabling us to be the most cost effective charity in this sector. Our staff and volunteers combined bring a huge wealth of knowledge and experience in this sector allowing us to offer the most comprehensive advice, support and mentoring to our clients, giving them each a truly life changing experience, leaving them with a much higher self esteem.
Read more about the Charity running this project.
Project manager. Over see funding for the project is available and that the project is executed properly and a success
Our Clients Managers over see the end to end experience of our clients, from their application to the loan being approved, to post loan support.