The Princes Initiative for Mature Enterprise
(Entrepreneursover the age of 50)
The above initiative was set up by HRH The Prince of Wales in response to letters he received from people desperate to work but unable to find anyone to employ them because of their age. People over the age of 50 who wish to become self employed or set up their own business can apply for a loan of between £500 and £10,000 through the Prince’s Initiative for Mature Enterprise (PRIME) new loan scheme.
PRIME is a member of the Prince’s Charities group. To be eligible applicants need to:
• be over the age of 50
• must be either unemployed (not in paid employment), facing redundancy (within the next six months) or be self- employed (but still in your first year)
• must be a UK resident for at least three years.
The loans are for up to three years and the interest charged is 12% APR. Applications can be made at any time. For more information, click here
