Start Up Loans

Start or grow your own business

  • Borrow up to £25,000
  • Fixed interest rate of 6% p.a.
  • 1-5 year repayment term
  • 12 months of free mentoring
  • Government-backed

 

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Start Up Loans

Start or grow your own business

  • Borrow up to £25,000
  • Fixed interest rate of 6% p.a.
  • 1-5 year repayment term
  • 12 months of free mentoring
  • Government-backed

Feefo Gold Trusted Service Award

A Start Up Loan is a government-backed personal loan available to individuals looking to start or grow a business in the UK.

Start Up Loans offer an affordable source of finance to help new and early stage business owners bring their plans to life. You can borrow between £500 and £25,000; the average loan amount is £7,200.

In addition to finance, all Start Up Loan recipients are offered up to 12 months of mentoring support and access to a range of special business offers.

Click below to get started.

A Start Up Loan is a government-backed personal loan with free mentoring available to individuals looking to start or grow a business in the UK.

Loans are strictly for 18s and over. Personal loans for business use only. Finance is subject to status. Terms and conditions apply.

N

Borrow £500 – £25,000
(The average loan amount is £7,200)

N

Fixed interest rate of 6% p.a.

N

1-5 year loan repayment term

N

Free application support

N

Free post-loan support and mentoring

N

No application or set-up fees

N

Exclusive business offers

Loans are strictly for 18s and over. Personal loans for business use only. Finance is subject to status. Terms and conditions apply.

Over 75,000 business ideas supported across the UK with more than £600 million worth of loans.

Read case studies from start ups we’ve funded across the regions.

Here are the steps involved in applying for a Start Up Loan:
Here are the steps involved in applying for a Start Up Loan:

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STEP 1
CHECK ELIGIBILITY & REGISTER

First, complete our initial eligibility check. If you are eligible, we will ask you to register, which will enable you to start your application with us. Our full eligibility criteria can be found on our Am I Eligible? Page.

At this stage, all you’ll need to provide is basic details such as your name and contact details.

After registering you'll ll receive an email asking you to create an account and password so you can login to our customer portal where you can start your application.

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STEP 2

COMPLETE AN APPLICATION FORM

Stage 1: Provide information about your situation, how much you’re seeking and how you’ll use the loan.

Stage 2: A personal credit check will be run to further assess your eligibility in line with our commitment to responsible lending.

Stage 3: Upon passing the credit check, we ask you to submit a Business Plan, Cash Flow Forecast and Personal Survival Budget. 

Upon passing the credit check there is a 90 day window to complete your assessment.

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STEP 3
FINALISE BUSINESS DOCUMENTS

Your Business Adviser will review your business planning documents and key supporting documents, and will work with you to get them ready for assessment.

Our assessment will take into account the strength and viability of your business, demonstrated through the Business Plan and Cash Flow Forecast and the affordability of the loan through the Personal Survival Budget.

If approved, you will be sent your personal Loan Agreement online and be invited to take-up 12-months of Post Loan Support.

If you need help creating your business plan, cash flow forecast or personal survival budget, we offer a range of free templates.

Here are the steps involved in applying for a Start Up Loan:
Here are the steps involved in applying for a Start Up Loan:

pen icon

STEP 1
CHECK ELIGIBILITY & REGISTER

First, complete our initial eligibility check. If you are eligible, we will ask you to register, which will enable you to start your application with us. Our full eligibility criteria can be found on our Am I Eligible? Page.

At this stage, all you’ll need to provide is basic details such as your name and contact details.

After registering you'll ll receive an email asking you to create an account and password so you can login to our customer portal where you can start your application.

form-icon

STEP 2

COMPLETE AN APPLICATION FORM

Stage 1: Provide information about your situation, how much you’re seeking and how you’ll use the loan.

Stage 2: A personal credit check will be run to further assess your eligibility in line with our commitment to responsible lending.

Stage 3: Upon passing the credit check, we ask you to submit a Business Plan, Cash Flow Forecast and Personal Survival Budget. 

Upon passing the credit check there is a 90 day window to complete your assessment.

document-icon

STEP 3
FINALISE BUSINESS DOCUMENTS

Your Business Adviser will review your business planning documents and key supporting documents, and will work with you to get them ready for assessment.

Our assessment will take into account the strength and viability of your business, demonstrated through the Business Plan and Cash Flow Forecast and the affordability of the loan through the Personal Survival Budget.

If approved, you will be sent your personal Loan Agreement online and be invited to take-up 12-months of Post Loan Support.

If you need help creating your business plan, cash flow forecast or personal survival budget, we offer a range of free templates.

Eligibility Criteria:

To be eligible to apply for a Start Up Loan, you must fit the following criteria:

Eligibility Criteria:

To be eligible to apply for a Start Up Loan, you must fit the following criteria:

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You’re 18 years of age or older

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You are currently a resident of the UK

N

You’re starting a new business or have been trading for up to 24 months

N

You’re unable to secure finance from other sources (self-declaration is ok)

N

Your business is based in the UK

N

You have the right to work in the UK

N

Your business type and loan purpose are eligible under terms of the scheme

N

You pass our credit checks and you can afford to repay the loan

Do you fit the criteria?

Register today and a Business Advisor will be in touch to help you get your business venture under way.

If you are in a business partnership, buying an existing business or starting a franchise, you are able to apply for a Start Up Loan if you fit the criteria above. Scroll down this page to find out more about the process for these applicants.

If you are in a business partnership, buying an existing business or starting a franchise, you are able to apply for a Start Up Loan if you fit the criteria above. Scroll down this page to find out more about the process for these applicants.

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