The Fredericks Foundation is a British charity that helps the disadvantaged to move into self-employment.
Charitable work
The Fredericks Foundation was established in 2001 by entrepreneur Paul Barry-Walsh with the central aims of assisting the disadvantaged into self-employment, supporting those in financial hardship either to set up in business or obtain paid employment, and helping those whose businesses are struggling in times of difficult economic conditions. Fredericks is a Registered Charity (no 1086562) and a Member of CDFA in the UK.
The Fredericks Foundation has made over 950 loans in its first ten years at an average of £4,500 per loan. Historically Fredericks has concentrated on start-up microfinance for the financially disadvantaged. Prime Minister David Cameron attended the 10th Anniversary Conference at Blenheim Palace to launch the Fredericks Oxfordshire operation.
Fredericks is lending across the South of England using a locally managed fund strategy. This strategy allows for the development of local knowledge and contacts in each area, while retaining the efficiencies of central loan servicing and other support through the Lightwater, Surrey office. A Client Manager assesses applications and brings clients to Lending Panels of local business people for decision. Under this approach funds are ring-fenced within a specified geographical area and the local business community is engaged to support and advise. The Lightwater ‘back office’ disburses loans and manages collection.
A key feature of Fredericks is its use of volunteered resources such as rooms and time given pro bono. Advisory Boards, Lending Panel members and mentors come from the local business community.