- 7 updates
The chairman of the Start-up Loans Company, former Dragons Den star James Caan has told ITV News that the loans are aimed at, "small businesses for local communities."
He added; "what my primary focus here is to get people up and running so they can start their own businesses so they're not depending on getting jobs."
Lisa Brady, 24, is a hairdresser specialising in those with hair loss, she told ITV News that a, "Start-Up loan completely changed my life. It's given me that chance to grow my business."
David Cameron has announced that thousands more young people could benefit from government loans which aim to turn their business ideas into reality.
The Dragons Den-style 'Start-Up loans scheme' is being boosted by £30 million to £110 million over three years.
According to Downing Street, because of the "high demand", the age limit for applying for a loan is being raised from 24 to 30.
Despite criticism that only a few hundred loans have been finalised since the scheme was launched last Autumn, Number 10 insisted that it was on target to issue more than 2,500 loans by March.