New AIM initiative to provide up to £25,000 loans to indie start ups
AIM has today launched a new Government-backed scheme offering access to finance for independent music companies and entrepreneurs.
The AIM Start Up Loans initiative will see the trade body be responsible for assessing applications and approving personal loans ranging from £1,000 up to £25,000 for business purposes.
The loans can be paid back in 1-5 years, with interest fixed at 6%.
The average loan amount is £5,700 and is decided individually depending on a company’s business needs.
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