Start Up Loans

Start or grow your own business

  • Borrow up to £25,000
  • Fixed interest rate of 6% per annum (per year)
  • Repay over a term of 1–5 years
  • 12 months of free mentoring
  • Government-backed

Start Up Loans

Start or grow your own business

  • Borrow up to £25,000
  • Fixed interest rate of 6% per annum (per year)
  • Repay over a term of 1–5 years
  • 12 months of free mentoring
  • Government-backed
Over 80,000 business ideas supported with more than £600 million worth of loans
We offer low-interest personal loans and free mentoring to help you start or grow a new business.
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Borrow up to £25,000
(The average loan amount is £7,200)

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Fixed interest rate of 6% per annum (per year)

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Repay the loan over a term of 1–5 years

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No fees for arranging the loan or paying it back early

A great alternative for people looking for a business loan to fund a start-up.
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Support with writing business plans and cash flow forecasts

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12 months of free mentoring once you receive a loan​

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A range of useful templates and how-to guides

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Exclusive discounts on business products from O2, Experian, Intuit and 30+ more

To be eligible to apply for a Start Up Loan, you must meet the following criteria:
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You’re 18 years of age or older
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You’re a current UK resident
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You’re starting a new business or have been trading for up to 24 months
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You’re unable to secure finance from other sources (self-declaration is ok)
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Your business is based in the UK
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You have the right to work in the UK
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Your type of business and reason for wanting the loan is eligible under the terms of the scheme

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

Do you meet the criteria?

Apply today and get support with creating your business plan and cash flow forecast.

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 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.

More information on the loan, can be found in our Frequently Asked Questions

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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 the Scheme’s 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, you’ll be assigned to one our Delivery Partners with a dedicated business advisor. There is a 90-day window for you to complete your application.

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STEP 3
FINALISE BUSINESS DOCUMENTS

Your business adviser will review your business planning documents as well as any 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 your application is successful, you will be invited to take up 12-months of free 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.