We are an official Business Support Partner for British Business Bank’s Start Up Loan Scheme as part of a network of business support partners
We deliver Start Up Loans across the East Midlands, South East Midlands and West Midlands. We understand it can be difficult for new businesses to access the finance they need due to their limited trading history so we’re proud to help plug the funding gap.
The British Business Bank’s Start Up Loan Scheme is a UK-wide, government-backed scheme that offers a repayable loan to individuals looking to start or grow a new business. In addition to providing finance, all Start Up Loan recipients are given access to a mentor, free training events and exclusive business offers. The loan is also unsecured so there’s no need to put forward any assets or guarantors to support an application.
Why choose Start Up Loans through us?
- 1-5 year loan repayment term
- Fixed interest rate of 6% p.a
- No application or set-up fees
- Free post-loan support and mentoring
- Borrow £500 – £25,000*
- No early repayment fees
Are you eligible?
- 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 36 months
- 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 our credit checks and you can afford to repay the loan
The application process at a glance
- A Start Up Loan application form should be completed
- Applications must be supported by a business plan
- A minimum 12-month cash flow forecast and personal survival budget must be included
- A personal credit check will be completed as part of your application
Start Up Loan Scheme business offers
The Start Up Loan Scheme has secured some fantastic business offers exclusive to Start Up Loan recipients. These provide discounts on several business products and services needed to launch a successful start-up. See how the Start Up Loans business offers could benefit you.
The small print
A Start Up Loan is a personal loan for business purposes.
The Start Up Loans are available to individuals that are 18 years of age or older. Up to four business partners in a company are eligible to apply for up to £25,000 each, with a maximum of £100,000 available. Businesses must have been trading for less than 3 years to be eligible.
*per business owner/partner.
Please refer to this LINK to read more about The Start Up Loans Company privacy notice, which has been written in accordance with UK data protection laws to explain what personal data we process and why.