The information below is only intended to provide links to possible loan and grant providers. Devon County Council does not endorse any business or personal loans, grants or other financial schemes. You should seek advice from a qualified financial expert before committing to any financial arrangement.

1. Finance options

Read about the finance options available for businesses on the Business Finance Guide website.

You’ll need a business plan if you want to secure investment or a loan from a bank. Check out advice on writing a business plan here

2. Apply for a Government-backed start-up loan for your business

Apply for a government-backed Start Up Loan of £500 to £25,000 to start or grow your business. Unlike a business loan, this is an unsecured personal loan. You’ll need to pass a credit check.

You’ll get free support and guidance to help write your business plan, and successful applicants get up to 12 months of free mentoring.

To apply for the loan you must meet the following requirements:

you need to live in the UK
you need to be 18 or over
you need to have (or plan to start) a UK-based business that’s been fully trading for less than 36 months

Fees and repayment

Start Up Loans are government-backed and charge a fixed interest rate of 6% per year.

You can repay the loan over a period of 1 to 5 years. There’s no application fee and no early repayment fee.

3. Local finance and support for businesses in Devon:

Business Information Point – BIP has close links with organisations that provide funding for small or medium sized businesses (up to 249 employees), and can advise you on available funding in Devon. Through one of BIP’s experienced advisers, they can get your business ready and submit a strong application for funding.

SWIG Finance – SWIG finance provides Loans ranging between £25,000 and £250,000 for small to medium sized businesses and start-up businesses.