British Business Bank - Start Up Loans
Product Description:
Start Up Loans:
* Start or grow your own business
* Borrow up to £25,000
* Fixed interest rate of 6% per year
* Repay the loan over a term of 1-5 years
* 12 months of free mentoring
* Government-backed
* No fees for arranging the loan or paying it back early
Our loan repayment calculator is designed to help you work out what your total and monthly repayments for your Start Up Loan will be, based on the loan term and amount you choose.
Area of Expertise:
Loan funding, pre-loan support and 12 months of free mentoring for loan recipients.
Eligibility:
* 18 years of age or older
* You’re a current UK resident
* You’re starting a new business or have been trading for up to 36 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 is eligible under terms of the scheme
* You pass our credit checks and you can afford to repay the loan
* If you are in a business partnership, buying an existing business or starting a franchise, you are able to apply for a Start Up Loan if you fit the criteria above.
Districts:
- Leicester City
- Blaby
- Charnwood
- Oadby and Wigston
- Melton
- Harborough
- Northwest Leicestershire
- Bosworth and Hinckley
Application Process:
Call us on 0116 454 2917 or email us Growthhub@llbsp.org.uk