The Start Up Loans team understand that many small businesses are facing a challenging and uncertain time as a result of the coronavirus. We want to reassure our customers that we are committed to supporting you through this difficult economic period.
We are continuing to operate as normal during this time and you can still apply for a Start Up Loan. Our in-house team and network of delivery partners are available to offer application advice and post-loan support. Second loans are also still available to eligible existing customers.
We also have available options to help Start Up Loan applicants reduce their initial outgoings, which include where appropriate; capital repayment holidays for up to the first 12 months of the loan and tranche loans. A tranche loan allows applicants to draw down the money in two instalments, rather than committing to the full loan amount from the start. You can find out more by contacting the Start Up Loans team online or by calling 0344 264 2600 between 9am and 6pm, Monday to Friday.
If any of our loan recipients are experiencing financial difficulties, we would encourage you to contact your Finance Partner to discuss your current circumstances and options available to you. If you are unsure who that is you can find their details on your loan agreement or please contact our customer service team.
Our website is full of useful content including FAQs and we have a series of free guides to help you with your business. We will continue to update our social media channels and website over the coming days and weeks, but if you have any concerns please do get in touch.
The Government recently announced other measures to support businesses through this period of disruption caused by COVID-19. Find out more about the Coronavirus Business Interruption Loan Scheme (CBILS).