A Start Up Loan is a government-backed personal loan available to individuals looking to start or grow a business in the UK.
The loan is an unsecured personal loan issued in the name of the applicant and the applicant remains solely responsible for the repayment of the loan, even in the event that their business fails.
- You can borrow between £500 and £25,000.
- Repayment terms of 12 to 60 months.
- Fixed interest rate of 6% per annum.
- Free application support
- Free post-loan support and mentoring
- No application or set up fees
- No early repayment fees
Our average loan size is between £5,000 and £10,000, but of course the final amount ultimately depends on the needs of individual, the type of business model and how you intend to use the money.
To find how much your monthly repayments could be, please visit our loan repayment calculator.