Start Up Loans

A Start Up Loan is a government-backed personal loan available to individuals looking to start or grow a business in the UK. The scheme has now been expanded to support businesses that have been trading for up to three years (it was previously two years).

The scheme enables individuals looking to start or grow a business in the UK to borrow between £500 and £25,000 as a personal loan with a fixed interest rate of 6% per annum. All owners or partners in a business can apply individually for up to £25,000, up to a maximum of £100,000 available per business.

The loan is unsecured, so there’s no need to put forward any assets or guarantors to support an application.

In addition to finance, successful applicants receive 12 months of free mentoring and exclusive business offers to help them succeed.

The scheme is provided by the Start Up Loans Company, which is part of the British Business Bank, and a network of delivery partners across the UK.

Focus of fund/fund aims:

Low-interest loans and mentoring to help people who are starting a new business or who have been trading for up to 36 months

Application deadline:

Apply at any time

Fund description:

https://www.startuploans.co.uk/