JOBLESS people refused credit by their banks can get help to start up their own businesses thanks to a new £60,000 fund.

The Fredericks Foundation charity was set up in 2001 as a social enterprise to help young people who had made bad decisions to get back on track.

Because of the credit crunch, with banks less willing to lend to small businesses, it has branched out to help existing companies rejected by their banks, as well as lending to the long-term unemployed.

Now it has received £60,000 from a Government scheme, through Oxfordshire County Council, to spread the initiative to the county.

One of its first clients was Harwell window cleaner Dominic Greenough, who received a loan to buy a van and equipment after being made redundant.

The banks did not consider him credit-worthy, but his business is now flourishing and he hopes to pay off his Fredericks loan next year.

He explained: “The Jobcentre put me on to Fredericks. They gave me an interview and I explained our situation.

“They were only interested in the business we have got and the drive behind it.”

His company, DG Professional Cleaning Services, uses a water-fed pole to clean windows, as well as offering pressure washing and carpet cleaning.

He said business had grown by word of mouth, despite the recession.

The Fredericks Foundation was set up by computing millionaire Paul Barry-Walsh, founder of SafetyNet, now Guardian IT.

As well as Mr Barry-Walsh’s money, the foundation is also funded by the European Union’s European Social Fund and the Government’s Phoenix Fund.

Affiliated businesses give one per cent of their profits each year, as well as giving up some of their time to support the charity’s work.

One of its supporters is Mike Jennings, of Monument Business Park, in Chalgrove, who has offered office space to the charity’s new Oxfordshire representative, former bank manager Tim King.

Mr King said: “The foundation was set up because Paul Barry-Walsh wanted to give something back, helping disadvantaged people to start up in business.

“Over the years that has widened from the unemployed and ex-offenders to helping single operators – people who would not be able to save up the money needed. We help anyone who cannot get traditional bank finance.”

Clients are referred by advice services such as Business Link, as well as Jobcentres.

Decisions on loan applications are made by a panel of business experts.

Mr King said: “The panel interview is more like Dragon’s Den than The Apprentice. It’s a friendly interview.”

Local experts involved include accountants Gavin Little, of Critchleys, and Steve Clark, of James Cowper. For more information about the scheme, call 01865 893383.