BT to provide financing for telecom, IT services to new businesses

BT (NYSE: BT) wants to encourage the creation of new businesses via its "Kick Start Scheme" that lets them lease up to £15,000 ($23,000) worth of technology and telecom products and solutions.

Developed in conjunction with Shire Leasing, any business that's less than three years old can apply for funding under the "Kick Start Scheme" once they clear necessary credit screenings.

New businesses can buy a number of IT and communications products and services including everything from traditional landline phone systems (PBXs), handsets, broadband connections, software licenses and even laptop computers.

Open to any industry vertical, BT said an average £3,000 ($4,600) loan will cost less than £20 ($31) per week and that participating companies can scale the amount of money they borrow as they scale as their business.

With an average of 270,000 new businesses popping up in the UK each year, Declan McGlone, general manager of BT Finance, BT Business, said that during what is a challenging "economic climate we want to help these businesses access the products and services they need to get their new venture up and running."

While BT's "Kick Start Scheme" is just getting off the ground, emerging publishing company A.I. Global Media Ltd. has entered into a similar agreement with Shire Leasing to assist its eight-person staff that's in the process of launching a corporate finance publication.

For more:
- see the release

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