Importance of small business loans

Christiana Ezeilo established Waterfield Supported Homes as a residential care home. She needed an extra £7,500 to open. “As well as a loan I’ve had a lot of practical support: they gave me a mentor who was running through everything to make sure I got it right.”

Juliana Oei established Almost Famous to provide affordable luxury clothes. She received a loan of £5,000 to help market her new business. “I tried to get the funding myself for my business, that’s where the struggle came in. I looked for banks and financial companies but they said no, then I found GLE oneLondon”.

Idris Hussain needed £15,000 to expand, In Tha House Music and Records, a gospel music outlet. “I distinctly remember when I first went into a bank to meet the manager to ask for £70,000. Looking back, he was probably laughing behind his chair thinking, 'he means well but if you've got no collateral and no experience we're not going to give you the money'”.

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