Women lead way on start up loans

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Donbac, the Doncaster-based Enterprise Agency and community development funding specialist is bucking the national trend by lending more money to female entrepreneurs than men.

More than half of the loans which Donbac has made to Sheffield City Region firms under the Government-backed Start-Up loan scheme have gone to female entrepreneurs.

Government figures show 35 per cent of new businesses are created by female entrepreneurs and 40 per cent of the money invested in new companies under the Government Start-Up loan scheme has gone to women.

Donbac mircoloans manager Terry Woodhouse said: “We have recently noticed a marked increase in enquiries and loan applications from female businesses across the region, everything from online baby clothes to a security firm.”

The organisation, which operates a number of funds to help companies from the region, is working with Sheffield City Council and other partners in the Sheffield City Region to deliver the Start-Up loan scheme and says it is delighted to be beating the national trend.