By Jennifer Sieg A grand total of £100m in Start Up Loans has been distributed to the “next generation” of business leaders, the latest breakthrough shows, despite an ongoing wave of SME funding challenges. Since the Start Up Loan Scheme, funded through British Business Bank, was introduced in 2012, some 15,000 loans have been issued to founders aged 18 to 24, bringing the total to £100m. The news comes at what’s seen as a turbulent time for Britain’s SMEs since traditional banks began tightening their lending criteria. However, the pull-back from big banks has led SMEs to seek alternatives, w…