Start Up Loans

Support Available 

A Start Up Loan is a government-backed personal loan available to individuals looking to start or grow a business in the UK. In addition to finance, successful applicants can receive 12 months of free mentoring and exclusive business offers to help them succeed.

The loan is unsecured, so there’s no need to put forward any assets or guarantors to support an application. All owners or partners in a business can individually apply for up to £25,000 each, with a maximum of £100,000 available per business

• Borrow up to £25,000
• Fixed interest rate per annum (per year)
• Repay the loan over a term of 1–5 years
• No fees for arranging the loan or paying it back early
• Support with writing business plans and cash flow forecasts
• 12 months of free mentoring once you receive a first loan
• A range of useful templates and how-to guides

Start Up Loans is administered by British Business Bank but delivered through various partners which the website will direct them to dependent on location and business circumstance.

Eligibility Information 

You can apply for a Start Up loan if:

• You’re 18 years of age or older
• You’re a current UK resident
• You’re starting a new business or have been trading for up to 60 months (five years)
• You’re unable to secure finance from other sources (self-declaration is ok)
• Your business is based in the UK
• You have the right to work in the UK
• Your business type and loan purpose is eligible under terms of the scheme
• You pass credit checks and you can afford to repay the loan