North_East_start-up_approves_business_loans_worth_£50m.jpg

North East start-up approves business loans worth £50m

A North East start-up established to help other entrepreneurs fulfil their ambitions has smashed its target to back 5,000 businesses – approving funding worth more than £50m. 

Gateshead-based Transmit Start-Ups, now the UK’s number one provider of Start Up Loans for new enterprises, hit the milestone figure seven months ahead of its original target. 

To date, the company has supported 5,031 entrepreneurs from every corner of the UK with loans totalling £50.9million – helping to launch businesses ranging from tattoo studios to telecoms providers and everything in between. 

Transmit Start-Ups was set up in 2013 by North East entrepreneurs Damian Baetens, Richard Myers and Ian Straker who shared an ambition to help others starting out in the world of business.

Having experienced the products and service offered by traditional sources of finance, the trio were keen to do things differently – offering an alternative to entrepreneurs who have been turned down by the banks.

Business support director, Damian Baetens, said: “It’s fair to say we are pretty chuffed to be hitting these big numbers. That three guys from Gateshead could have had this kind of impact on the UK’s start-up community is really something. 

“It’s an accomplishment we share with our incredible team whose high standards, genuine care and Northern warmth have made us the number one choice for Start Up Loans in the UK.”

Through the Government-backed Start Up Loans programme, Transmit Start-Ups offers entrepreneurs low interest loans coupled with high-impact mentoring to maximise the results of finance provided. 

Commercial director Richard Myers added: “Small businesses are the lifeblood of our economy and it’s crucial that they have access to the finance and guidance they need to fulfil their potential.

“Start Up Loans were designed to plug the gap left by the banks whose lending criteria often leaves entrepreneurs out in the cold.

“Each of our loans represents one more person moving towards their goals and it’s really humbling know we’ve played a part in their journey to get their business off the ground.” 

Transmit Start-Ups is part of the Transmit Group of companies which offer funding, consulting, coaching and mentoring services to entrepreneurs throughout their business journey. 

Transmit Group employs 28 people across its head office at Northern Design Centre, Gateshead, its Scottish base in Glasgow and its network of consultants across the UK and is beginning to recruit further team members to handle its expanded services. 

Ashleigh Smith
Article by Ashleigh Smith
Share Article
Feedback