Do you need some extra funding for your business?
Are you Thinking about taking a start-up loan?
You can use our loan calculator to check how your monthly repayments would look like.
Simply select how much money you think you need to borrow and the repayment period. This will show the amount you will have to repay each month including interest.
A start-up Loan is a Government-funded loan that supports those who are starting their own businesses.
It’s a low interest, unsecured loan that lets you borrow £500 – £25000, depending on your business needs.
The reason the UK Government funds start-up loans is that new businesses are considered to be risky and most other lenders cannot help them.
To be eligible for a startup loan you must:
- Live in England, Scotland or Northern Ireland
- Be 18 years of age or older
- Have the right to live and work in the UK
- Have a new business or have been trading for less than 2 years
- Demonstrate that you can afford to repay the loan
- A Business Plan – to show what your business does
- Financial Forecast and Personal Survival Budgets – to show how money moves in and out of your business and to make sure you’ll be able to pay your personal bills while working on your business
- Loan Expenditure – to show what money is needed for and how it supports your business idea. This will help you borrow the right amount.
Contact us for support today
We can support you and your business through one-to-one mentoring, low-interest loans, and business workshops. Get in touch with us today.