The repayments per £1,000 start up loan would be:
A Start Up Loan is a Government backed personal loan for business purposes. We lend to applicants who are 18 years or older at the time of application. Individuals can receive one loan, however more than one partner in a business can apply for a Start Up Loan. Please note that you will be credit checked as part of your application.
LOAN REPAYMENT PERIOD (YEARS)
Start Up Loans is a government backed scheme, providing repayable loans and mentoring to individuals in the UK with a viable business idea but no access to finance.
Business Starts delivers start-up loans nationally.
We are here to guide you through the application process, including advice on creating a business plan and cashflow forecast.
If you receive a loan there are a range of ongoing support services to help you make a success of your business.
There are no fees charged for obtaining a Start Up Loan or any of the services associated with it.
“It is by backing our entrepreneurs and championing small business that we can drive forward and grow the economy, and equip this country for the highly competitive era we are in.”
Former Prime Minister
You must be 18 or over
ü You must be based in the UK
ü The loan is an unsecured personal loans
ü The loan can only be used for business purposes
ü The loan is between £500 and £25,000 per applicant
ü Each business founder (partner, director, shareholder) can apply for a separate loan (maximum of 4 per business)
ü Repayments are made over 1 to 5 years and have a fixed 6% per annum interest rate
The Start Up Loans programme aims to provide mentoring and financial support to entrepreneurs that would not normally be available via traditional banking relationships.
Start Up Loans are available to new business founders aged 18 or over in the UK. The programme’s aims are to:
These goals are achieved by offering pre-application support to entrepreneurs, affordable loans on clear terms, ongoing support, and access to useful product and service offers that would not normally be available to new businesses.