How Do I Apply?When you apply for a Start Up Loan with us, we’re not just processing a financial transaction, we’re helping you build a business. Our application process focuses on giving you the support you need to succeed, while keeping you informed and in control at every stage.
Here are the steps involved in applying for a Start Up Loan:
REGISTER YOUR DETAILS
Fill in our registration form. Then choose a Delivery Partner or let us match you with one who we think can offer the best support with your application.
Your Delivery Partner will assign you an experienced Business Adviser who will contact you and provide any support you require when preparing your application.
COMPLETE AN APPLICATION FORM
Provide information about your business to help us understand your personal situation, how much you’re seeking and how you’ll use the loan.
A credit check will be run with your consent to assess if you’re eligible and, in line with our commitment to responsible lending, determine if you can afford the loan.
FINALISE BUSINESS DOCUMENTS
You will need to provide a Business Plan, Cash Flow Forecast and Personal Survival Budget as part of your application.
We offer a range of free templates and your Business Adviser will be able to support you in finalising these documents. If you have already completed these, you can submit them for your review as soon as you’re ready.
When your application is submitted in full, a loan assessment will be carried out to evaluate if you have a strong and viable business plan and you can afford the loan and associated repayments.
Your Business Plan and Cash Flow Forecast will show your Business Adviser how you intend to use your Start Up Loan and will help us to assess if the amount requested is appropriate for your business (you may borrow between £500 and £25,000; the average loan amount is £7,200).
If your application is approved, you will be sent a Loan Agreement in the mail to sign. Once you have returned this agreement, you will receive your Start Up Loan and be invited to take-up 12-months of one-to-one business mentoring.
Click on the button below to get started.