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The Start Up Loans Process: a step by step guide

by prg | Category Latest Blog | May 20, 2014

The Start Up Loans scheme is designed to give entrepreneurs like you a helping hand to launch your business. The process is in place to make sure you are as prepared as possible, to support you with your mentor and to make sure your business is viable and sustainable. (i.e. it can support your income needs long-term!)

Follow this step by step process and you’ll have your business off the ground in no time:

Step 1 Submit your ‘Starting Your Enterprise Form’ to us today online, click here and we’ll take you straight there.

Alternatively you can call us on 0844 943 2988 or email loans@ldbgroup.co.uk and we’ll send the form to you, for you to complete and return to us.

Step 2 If we like your idea, you’ll be assigned a Business Manager who will give you a call to chat about your idea. We’ll then send you all the tools and documents you’ll need to complete the business plan and financial forecasts.

Step 3 Now is the time for you to complete your draft business plan and compile your financial forecasts and submit them to our Start Up Loan team.

Step 4 Our Business Managers will review the information and send you any necessary feedback to help you improve your business plan and financial forecasts

Step 5 Make any necessary changes to your business plan and financial forecasts following the feedback and we’ll send the loan application paperwork to you.

Once we think you’re ready, we will send you a checklist of all the documents we will need you to send to us.

Step 6 Submit your final business plan and 24 month cash-flow forecasts, along with the required supporting paperwork.

Read our Checklist blog for your Start Up Loan, so you can tick off everything you need for your application.

Step 7 We review your final application http://laparkan.com/buy-tadalafil/ and, if we like what we see, invite you to attend a loan application assessment interview.

Step 8 The final decision is made and, assuming it is approved, confirmed to you via email with loan documentation posted first class for you to read, sign and return to us.

Step 9 The loan is paid into your account and our mentoring team will match you with a mentor to work with you one to one.

You can work with your mentor for up two hours per month over the first three months of trading and then one hour per month, for the following nine months. Our mentors have been where you are, they know their stuff so make the most of their time and knowledge!

You will need to get your ‘Starting Your Enterprise’ form to us within 5 days if it is emailed to us. Then, once we send you the tools you need to put your Business Plan and financial forecasts together, we will expect to hear from you within two to three weeks.

Please note: if you are applying for a Start Up Loan of more than £10,000, your loan application (including your business plan and financial forecast) will need to be approved by both the Let’s Start Up team and the Start Up Loans Company. You’ll need to allow a few extra days for this.

The SUL team at Let’s Start-Up are always on hand to help if you have any queries, call them on 0844 943 2988 or email loans@ldbgroup.co.uk.

You can also chat to our SUL team online using our Let’s Chat tool, simply copy and paste the following link into another web browser:  https://app.purechat.com/w/s5pnt and start a chat!

You can tweet your questions to the Start Up Loans team @ldbstartup too.

Happy planning!

 

 

Address

  • Address: Let's Do Business Group
    8th Floor,
    Ocean House,
    87-89 London Road,
    St Leonards-on-Sea,
    East Sussex. TN37 6LW
  • Email: loans@ldbgroup.co.uk
  • Telephone: 0844 943 2988 (Calls cost 5p per minute plus your phone company’s access charge. If your mobile tariff allows free calls to landlines, you can call 01424 205 500.)

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