Start or grow your own business with a Start-Up LoanThe Start Up Loans Company is a UK-wide, government backed scheme, which offers a repayable loan to individuals over the age of 18 who have a viable business idea but no access to finance. The scheme funds businesses in every sector. As well as financial backing all loan recipients are given access to a mentor, free training events and exclusive business offers.
With a fixed interest rate of just 6% per annum and the ability to borrow between £500 and £25,000 repayable over a period up to 60 months, Start Up Loans offer an affordable source of finance to help new and early stage business owners bring their plans to life. The loan is an unsecured personal loan issued in the name of the applicant and the applicant remains solely responsible for the repayment of the loan, even in the event that their business fails. Our average loan size is between £5,000 and £10,000, but of course the final amount ultimately depends on the needs of individual, the type of business model and how you intend to use the money. We work with the Let’s Do Business Group who are part of a network of official Start Up Loans delivery partners across the UK who administer the scheme. They will be able to guide you through the application process, including advice on creating a business plan and cash flow forecast. They will assess your application as well as provide feedback on your proposal. In order to start the process, please click here. This will enable you to register your interest, create an account and start the application process. If you are not yet ready to apply but wish to make a start on your business plan and cash-flow then these can be downloaded below:
- Download the Start Up Loans Application Form (Word)
- Download the Start Up Loan Business Plan Template (Word)
- Download the Start Up Loans Cash-Flow and Personal Survival Budget (Excel)