Start Up Loans Programme
Start-up loans give emerging businesses the opportunity to access up to £25,000 at a fixed interest rate of 6% per annum to turn their business idea into a reality.
This initiative is not just about funds; it's about fostering success. Picture this: over 105,000 business ideas have already been nurtured, receiving a substantial injection of over £1 billion in loans. The average loan amount hovers around £7,200, making it a flexible solution.
The repayment period spans 1 to 5 years and there are no fees for arranging or settling your loan ahead of schedule. The Start-Up Loans programme also offers 12 months of free mentoring and there’s access to a treasure trove of templates, how-to guides and exclusive discounts on business products.
Qualification Criteria
- Age Requirement: You must be 18 years or older.
- Residency: A current UK resident is a must.
- Business Stage: You should be either launching a new business or within the first 36 months of trading.
- Finance Challenges: If you're unable to secure finance from other sources, self-declaration is accepted.
- Location: Your business must be based in the UK.
- Work Authorisation: You should have the right to work in the UK.
If you meet these eligibility criteria, take the plunge into the application process today.