Start Up Loans
Finance For Enterprise is an official Delivery Partner for the Start Up Loans scheme across Yorkshire and The Humber, Lincolnshire and East Midlands.
Start Up Loans, administered by the British Business Bank, is a government backed scheme, providing low-interest repayable loans and free business support to individuals over the age of 18 who have a viable business idea but no access to finance. The scheme funds businesses in every sector. As well as financial backing, all loan recipients are given access to a mentor, free training events, and exclusive business offers.
- Living in Yorkshire and The Humber, Lincolnshire and/or East Midlands?
- Wanting to set up your own business or have recently started trading (up to 36 months)?
- Looking for an affordable loan to get you started?
- Needing business support and mentoring to help you on your journey?
Start Up Loans
A Personal loan for business purposes
- Loans between £500 to £25,000 (The average loan amount is £10,000)
- 1-5 year loan repayment term
- Fixed interest rate of 6% p.a
- No application or set-up fees
- Free post-loan support and mentoring
To apply, click here
Once you’ve submitted your application, a member of the team will be in touch to take you through the next steps;
- Applications must be supported by a Business Plan
- A minimum 12 month Cash Flow Forecast and Personal Survival Budget
The scheme lends to applicants who are 18 years or older at the time of application. Individuals can receive one loan per business, however more than one partner in a business can apply for a Start Up Loan.
Please note that a credit check will be carried out as part of your application.
The applicant remains solely responsible for the repayment of the loan, even if their business fails. If you fail to make a payment, Start Up Loans’ finance partner will contact you to determine why you missed the payment and work with you to come to a reasonable and fair agreement about how you’ll address it. The Finance Partner will also report this to credit reference agencies, which may affect your credit rating.
The Start Up Loans Company have secured some fantastic business offers, exclusive to Start Up loan recipients. These provide discounts on a number of business products and services and equip an entrepreneur with many of the tools needed to launch a successful start-up. To see how these offers could benefit your business and to redeem, please follow this link.