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Interest Free Loans for young people in Northampton

Interest Free Loans for young people in Northampton

The Sir Thomas White Northampton Charity offer interest free loans of up to £2,500 for educational purposes or up to £5,000 for business purposes to young people over the age of 21 and under the age of 35.

The criteria used for deciding whether to offers a loan is based on the objectives of the Charity which are to help young people advance in their education or training and/or to help establish them in work, vocation or in life generally.

Our loans are designed to help people from a financially disadvantaged background who may be unable to raise the funds they need from banks or other lenders.

The loans are interest free and payable after 10 years – although they can be repaid early.

Examples of the sort of loans we provide are:

helping fund a college course, to buy a van to help start up a business, for the purchase of specialist tools and equipment, to help adapt a property to start a business.

Residency Area Map

To be eligible for consideration for a loan you must:

  • be over 21 and under 35 years of age;
  • have been resident in Northampton for the last 5 years;
  • be able to provide three guarantors who will each be responsible for repayment of the loan should you be unable to;
  • be willing to take out an insurance or endowment policy as security for repayment of the loan (at a cost to you of approx. £25 or £50 a month)
  • provide an administration fee of £50 + VAT (£60) with your application when the loan is made.

Sir Thomas White’s charity works with Independent Financial Advisers to help borrowers find the right policy and can provide you with details of these when you apply;

 How it works

  • The loan is for a period is 10 years – though early repayment can be made
  • Repayment is not subject to any interest (unless the terms of the agreement are not adhered to)
  • You must obtain a suitable insurance or endowment policy as security for the repayment of the loan (at a cost to you  of approx. £25/£50 a month).
  • Provide as much information as you can about what you need the loan for as the Trustees may ask for further evidence when assessing your loan.

How to apply

  • Please email the Clerk for an application form. 
  • Educational Loans of up to £2,500
  • Business Loans of up to £5,000
  • You can telephone 01604 233233, or fill in the contact form below for application details.
  • We will contact you to arrange an interview to discuss your application which is normally held with three of the Trustees.
  • The Trustees will then assess your application and it will be considered at the Sir Thomas White's Northampton Charity Loans Sub-Committee which meets 4 times a year.
  • If agreed the application goes to be approved by a full meeting of the Trustees.
  • Normally you should hear within 3-4 weeks if your application has been successful.

Please note that in considering applications:

  • The Trustees have complete rights to select a candidate for a loan.
  • The Trustees will check to see that the loan is used for the purposes for which you applied for it (we may ask you for regular updates as to how you progress).
  • The Trustees will also take into account the overall amount of funds available to the Trustees for loans.


01604 233233
Sir Thomas White’s Northampton Charity
Elgin House
Billing Road
Northampton NN1 5AU
Open: Mon to Fri 9am - 5pm


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