Applications and assistance to be given
Applications are considered from any source on the Isle of Man from a person or persons or company that has been ordinarily resident for at least 12 months on the Island. Neither youth nor advanced age are relevant and there is no distinction made on the grounds of race, creed, gender or general background.
The founders also consider that it is equally meritorious to set up a window cleaning business requiring £1,000 as to set up a manufacturing facility requiring £100,000. Indeed it is often the former which may make the better investment.
There is no requirement for the applicant to find additional resources, but clearly the trustees will look more favourably on applicants who are able to contribute something more than enthusiasm to a project.
Many approved applications can be satisfied by the issue of shares, but in some circumstances loans or advice may also be appropriate. If a loan is offered it will be on a commercial basis but normally at a rate substantially less than that demanded by banks or other financial enterprises.