Fund title: Start Up Loans Company
Focus of fund/fund aims:
Affordable loans and mentoring to help people who are starting a new business or who have been trading for up to 24 months
Applications can be submitted at any time
The Start Up Loans Company is a subsidiary of the British Business Bank. It delivers the Government’s Start Up Loans programme providing finance and support for new and early-stage UK businesses.
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.
In addition to finance, successful applicants receive 12-months of free mentoring and other support.
The Start Up Loans Company also provides free business planning templates and start-up guides which can be downloaded from their website.