Overview
A start-up loan is a personal loan for business purposes. If you’re starting a new venture and it’s in the planning stages, or you have been trading for up to 24 months then a start-up loan may be able to help you.
The average loan size is £6,000, with one loan available per person. You are required to pay back the loan within 1-5 years, and the loan must be repaid in full, with 6% annual interest.
Am I eligible?
Start Up Loans criteria include:
- You must be over 18 and living in the UK
- You need to have an acceptable business idea and want to use the funds to support this venture
- You may have already started your business, but you have been trading for less than 24 months
Visit the Start Up Loans website for the full criteria.