Fredericks Foundation is a charity that helps disadvantaged people to set up or expand their own business via microloan funding and a range of business support.
Launched in 2001, Fredericks Foundation has advanced more than 1,000 loans with the aim of helping people who cannot access finance through the usual channels to realise their potential for the benefit of themselves and their families.
Analysis conducted in 2012 found that nine in 10 recent loan recipients were claiming benefits when they received support from the charity and that two thirds of these had kept up with their repayment schedule following loan receipt, suggesting positive moves towards financial independence and secure self-employment.
Fredericks Foundation has been expanding its offer to new parts of England and has recently launched an initiative offering start-up loans to young entrepreneurs. It has also announced a strategic partnership with Outset, which provides disadvantaged people with support to start and grow their own businesses.