Startup Loans is government funded scheme to provide advice, business loans and mentoring to startup businesses, backed by the British Business Bank.
- Start Up Loans of up to £25,000 now available to start-ups that have been trading for up to 3 years, up from 2 years
- new 'second loans' available for businesses that have been trading for up to 5 years
Start Up Loans provide a fixed interest rate of 6%, as well as mentoring, support and funding to aspiring business owners across the UK, providing support to those who might find it difficult to secure loans from traditional lenders.
A new second loan will be available to businesses operating for up to 5 years, providing eligible businesses between 3 and 5 years old government-backed finance to support their expansion.
