§ Mrs. RocheTo ask the Secretary of State for Education and Employment when she plans to re-launch the small firms training loan scheme; and with what changes. [11230]
§ Mr. PaiceThe small firms training loans scheme was re-launched in September 1996. The following changes in rules and procedures were introduced at that time
the capital and interest repayment holiday offered to SFTL borrowers is now based on the amount of the loan. Loans up to £700 receive a six-month holiday, loans between £701 and £15,000 receive nine months and those over £15,000 receive 12 months;endorsement of applications by a training and enterprise council or local enterprise company is now mandatory only for loan applications for amounts over £15,000 submitted to a bank other than the bank holding the applicant's main business accounts;eligibility for SFTL support has been extended to cover the costs of an employee acting as in-house trainer, providing that the named trainer is relieved of normal operational duties while training others;the application form has been simplified.