Start Up Loans
Product Description:
Our mission is to make owning a business a viable career for people who struggle to raise finance. We provide affordable loans and mentoring to help these people start up and succeed.
And as part of the British Business Bank, our aim is to drive sustainable growth and prosperity across the UK, and to enable the transition to a net zero economy, by supporting access to finance for smaller businesses.
Area of Expertise:
Loan funding, pre-loan support and 12 months of free mentoring for loan recipients.
Eligibility:
A Start Up Loan is a personal loan for business purposes, it aims to help individuals starting a new venture which is either still in the planning stages or has been trading for up to 18 months.
Anyone aged over 18 at the time of registration and living in the UK, is eligible to apply for a loan. You must have an acceptable business idea and want to use the loan monies to support this venture. You may have already started your business, but you cannot have been trading for more than 12 months. You must have the legal right to remain in the UK for the duration of your loan term and the right to be self-employed.
Every loan application is considered according to the needs of your business, with an average loan size of around £6,000. The final loan size will be determined by your business plan.
Districts:
- Leicester City
- Blaby
- Charnwood
- Oadby and Wigston
- Melton
- Harborough
- Northwest Leicestershire
- Bosworth and Hinckley