Princes Trust - Eligibility for Business Loan

[ashworthm]

I reviewed a thread on here recently and was concerned that incorrect information was appearing on the Princes Trust website with regard to eligibility criteria.

I can confirm that the website has now been corrected and the eligibility criteria can be found at the address below:

http://www.princes-trust.org.uk/Main Site v2/14-30 and need help/start up in business.asp

[ECI]

And for those in Scotland, you can visit the Princes Scottish Youth Business Trust's website at http://www.psybt.org.uk/startingabusiness.asp

Regards

Stu

[Widgey]

Are you connected to the princes trust?

If so, how come this appeared on the site in the first place? obviously this has stopped many potential applicants even applying to the trust when they saw this online.

I can't complain however, as I was greatly helped by the prince's trust in Plymouth, so no bad words from me.

[Sunee]

Wow most of the URLs on the Princes Trust Website have spaces in them.

[jet]

How did you only just realise that it was wrong? We've been moaning about it on here for a while, at how stupid it was about having to have less than 5 a-c gcses to be eligible.

I had a business exam on tuesday, in which i had to create a business plan and for sources of finance i wrote about Princes Trust, and the fact that our business would not be able to gain funding because of our grades. But it was wrong because we could have used it as a source of funding, but for a mistake on the website! I wont lose any marks for it though .....

Well at least you've changed it, expect alot more applications now!

[TheseWordsAreMyOwN]

That URL doesnt work in the original post, anybody have the link?

*Edit* here's the link

http://www.princes-trust.org.uk/Main...20business.asp

[Eagle]

Don't you have to have had a prison sentence to get a grant from the Princes' Trust?...

That's what they told my wife when she applied.

Gospel truth.

[TheseWordsAreMyOwN]

Originally posted by Eagle
Don't you have to have had a prison sentence to get a grant from the Princes' Trust?...

That's what they told my wife when she applied.

Gospel truth.

Why doesn't that surprise me? Lets leave business funding to the professionals.
Sounds to me that not even the Princes Trust knows it own criteria, maybe it's one rule for one and another rule for another? Any excuse for them not to hand out money.

Out of 1000 applicants I wonder how many will actually receive the funding they need? Wouldn't surprise me if I could count the number on one hand

And would you call them professional? Their website was only updated due to somebody reading a thread being posted on this very forum.
How long was it before you got in touch with them and told them to update it?

[ashworthm]

I advised them this morning of the error and it was corrected on the same day.

It is unfortunate that the Trust cannot provide funding to everyone that applies.

It is a shame that the many successful businesses started and the excellent work they do with their TEAM and XL programmes are not recognised by many on this website.

If of course you'd like to help the Trust with fund-raising to enable us to give more loans and support more young adults that are disadvantaged that of course would be welcomed.

[Eagle]

Thanks, but I wouldn't sponsor it even if my life depended on it.

[gwhaskew]

The Princes Trust seems to penalise anyone who actually did half well at school. As far as I am concerned it no longer provides the same level of business help it once did. It's a shame it seems to have turned its back on a lot of people with a lot of potential.

In London the trust wont help you if you have a degree!! very unfair!

[RichardJohn]

They still won't give grants/loans in Wale sno matter how scummy you are!

Prince of where?

[gwhaskew]

Yes I thought that was quite ironic.

[Eagle]

Originally posted by Eagle
Thanks, but I wouldn't sponsor it even if my life depended on it.

I've been asked to add some context regarding my above comment.

Here's some context:

My wife applied for a grant a couple of years ago. When she spoke to one of the advisors and explained her situation, she was told (and I quote)

"...You'd have more chance getting a grant from the Prince's Trust if you're a habitual drug-user, or have just come out of prison..."

Nice...

See also:

http://www.shell-livewire.org/forums...threadid=14108

[TheseWordsAreMyOwN]

If your an ex-convict, a drug dealer and a school drop out who has no qualifications what so ever then you might just fit the Princes Trust criteria