Submitted on Saturday 6th August 2011
Published on Tuesday 16th August 2011
Current status: Closed
Closed: Thursday 16th August 2012
Signatures: 3
Government Loan Guarantee Scheme
The government must establish a loan guarantee scheme for entrepreneurs who wish to develop new manufacturing infrastructure design, engineering, and manufacturing businesses especially with export potential that creates in excess of a specified number of sustainable quality career and employment opportunities with quality apprenticeship training that guarantees employment within the organisation.
The government must set up a mechanism under the terms of which agreement the banks must loan a ratio of 10:1. Which means for every £1 loaned by the guarantee scheme the banks must lend £10.
The maximum loan amount must be less than £1,250 for every job created and sustained for a minimum period of 12 months, and these jobs must be in place before the loan in finally paid off or the organisation in receipt of the loan shall pay a penalty not exceeding the entire loan amount.
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