Start Up Funding

What are they?

A government funded scheme to provide advice, business loans and mentoring to start up businesses via a network of  local delivery partners.

Who can apply?

Anyone aged over 18 at the time of registration and living in the UK, is eligible to apply for a loan. You need an acceptable business idea and want to use loan monies to support this venture. You may have already started trading but can still apply as long as you have not been doing so for more than 24 months.

How much?

Loans are available from £500 to £25,000 at a fixed interest rate determined by the Start Up Loan scheme (currently 6%) and can be taken over periods up to 5 years.  No security is required.

How do I Apply?

All applications need a business plan and 1 years cashflow projections as well as details of your personal finances. A free business mentor can be allocated to assist you with the business planning.

You may need to have available:

• 3 months personal bank statements

• Financial accounts if your business is over 12 months old

You might need additional documentation such as Proof of Address, or Proof of Identity, but we will let you know exactly what documentation you require during the application process.

You can also find further information and register your interest on the Start Up loan website here.