Innovative Social Enterprise Secures Extension to Government Contract
X-Forces Enterprise is proud to announce that as of 1st April 2023 the organisation has been confirmed as a Business Support Partner to British Business Bank’s Start Up Loans programme.
The contract renewal is a fantastic endorsement of the work done by X-Forces Enterprise (XFE) over the last 10 years as a Delivery Partner for Start Up Loans. The innovative business model harnessing collaboration between government stakeholders, corporate organisations and the armed forces third sector has the original idea of social entrepreneur and CEO, Ren Kapur MBE, who commented:
“We're thrilled to continue our relationship with British Business Bank (BBB) and excited as we look to the future and the prospect of helping even more individuals realise their entrepreneurial ambitions.
“The Start Up Loans scheme is a wonderful enabler for members of the Armed Forces community who wish to start their own businesses. We look forward immensely to working closely with BBB to facilitate crucial, accessible, and ethical finance, and with our charity partners to provide education, knowledge exchange, and ongoing support to enterprising members of the wider military family so they can make the best career choices for them.”
With over £28,000,000 in start up funds lent, and over 2,600 individuals assisted with their launch plans, XFE has cemented its position as the premier provider of enterprise support to the wider military family. Recognising this achievement, Richard Bearman, Managing Director of Start Up Loans welcomed the contract renewal, saying:
“I am delighted to share the first phase of our newly appointed BSPs, who will help us ensure that anyone wanting to start a business has the opportunity to do so, regardless of their location, economic circumstances or social background. “We are incredibly proud of the success of the scheme since 2012 and the choice to renew the contract with X-Forces Enterprise is testament to the impact the partnership has had over the last 10 years, in delivering funding and support to those who most need it. This group of people deserves, and will continue to get, exceptional support and service from the Start Up Loans scheme through X-Forces Enterprise.”
Background:
About X-Forces Enterprise
X-Forces Enterprise have developed a blueprint for self-employment support amongst members of the wider Armed Forces community. This comprises training, mentoring, networking, access to start up finance, and ongoing business support. All enabled through a collaboration of willing stakeholders across government, big business and the third sector.
About British Business Bank (BBB)
Our aim is to drive sustainable growth and prosperity across the UK, and to enable the transition to a net zero economy, by supporting access to finance for smaller businesses.
