Business Loans

In 2011/12 we supported 499 businesses with a business loan.

We understand that without access to finance, many businesses cannot get off the ground and others are unable to expand. 

New Enterprise Allowance Loan Service

If you are on Jobseeker’s Allowance, are aged 18 and over and want to start your own business, you can get extra help though the New Enterprise Allowance (NEA).

Your local Job Centre Advisor will let you know if you are eligible to be signed up to NEA and if so, you will get access to a volunteer business mentor who will provide guidance and support as you develop your business plan and through the early months of trading.

Once you have had your business plan approved and started trading, you may be able to access financial support. This will consist of:

• a weekly allowance worth £1,274 over 26 weeks, paid at £65 a week for the first 13 weeks and £33 a week for a further 13 weeks, and
• the facility to access a loan of up to £1,000 to help with start-up costs, subject to status.

Five Lamps adminsters NEA loans on behalf of The Department for Work and Pensions.