News flash: Start Up Loans accessible to more businesses
There is great news for budding entrepreneurs out there as the Start Up Loans Company has announced two policy changes which make the scheme more accessible to new ventures.
Enabling even more fledgling businessmen and women to access the business support and finance they need to get their ventures off the ground.
We outline the two changes below:
Start Up Loans Credit policy expanded
In the past, Start Up Loan candidates were required to provide written evidence that they hadn’t been able to secure finance through high-street sources.
After this latest policy change, potential applicants who believe they are likely to be refused a bank loan, can now apply.
Loan decisions are made on the viability and sustainability of the business proposition, rather than ticking boxes about credit or trading history.
Start Up Business Trading period extended
The second change to come into place is that the scheme has now been extended to include in certain circumstances, businesses up to the age 24 months.
So, for example, if you have a business which started up to 24 months ago and been dormant for some time or a business which has previously been a hobby and has developed into a more substantial operation, then we would love to hear from you.
The Start Up Loans scheme has become even more accessible and continues to bridge the gap and give start-ups a helping hand.
To find out more about these policy changes and applying for a Start Up Loan, get in touch with the SUL team on 0844 943 2988 or send us an email. You can also follow us on Twitter @ldbstartup.
Here at the Let’s Do Business Group we deliver the Start Up Loans scheme throughout the South East of England. Since the scheme came into effect in the autumn of 2012, we’ve lent more than £3.5 million and helped over 1200 businesses to successfully start-up.