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Next generation of entrepreneurs given financial boost

The £30 million boost to the Government's start-up loans scheme will give the next generation of entrepreneurs the finance and support to start their own business, helping Britain to get ahead in the global race.

The additional money will boost the total pot for start-up loans to over £110 million over the next three years, potentially helping to start tens of thousands of new businesses.

The Prime Minister also announced that due to demand from those who had just missed out on the scheme, and the challenges faced to secure loans to start a business, the age limit for application will now be extended from 24 to 30 years old.

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PM: 'Start-Up loans important part of my mission to back aspiration'

Start-Up loans are an important part of my mission to back aspiration, and all those young people who want to work hard and get on in life, so this country competes and thrives in the global race

They are a great way to help this next generation of entrepreneurs get the financial help - and the confidence - to turn that spark of an idea, into a growing, thriving business.

It is by backing our entrepreneurs and championing small business that we can drive forward and grow the economy, and equip this country for the highly competitive era we are in.

– Prime Minister David Cameron

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