A Start Up Loan is a government-backed personal loan available to individuals looking to start or grow a business in the UK.
With a fixed interest rate of just 6% per annum and the ability to borrow between £500 and £25,000, Start Up Loans offer an affordable source of finance to help new and early stage business owners bring their plans to life.
In addition to finance, all Start Up Loan recipients are offered up to 12 months of mentoring support and access to a range of special business offers.
- Borrow £500 – £25,000
- Fixed interest rate of 6% p.a.
- 1-5 year loan repayment term
- Free application support
- Free post-loan support and mentoring
- No application or set-up fees
- Exclusive business offers
Eligibility
- You’re 18 years of age or older
- You are currently a resident of the UK
- You’re starting a new business or have been trading for up to 24 months
- You’re unable to secure finance from other sources (self-declaration is ok)
- Your business is based in the UK
- You have the right to work in the UK
- Your business type and loan purpose are eligible under terms of the scheme
- You pass our credit checks and you can afford to repay the loan
For all programme information and details of how apply please contact the team on 01905 677 888 or email info@worcestershiregrowthhub.co.uk.