Apply for UK Start up Business Loans – Borrow up to £25,000

Bring your business dreams to life with a start-up loan. The Start-Up Loans programme is a UK-wide, government-backed scheme that offers a personal loan, of up to £25,000 to those that have a viable business idea but no access to finance. All successful loan recipients are offered free mentoring and access to exclusive business offers.

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Start-Up Loans, a subsidiary of the British Business Bank, is a government-backed scheme designed to support UK businesses that struggle to access other forms of finance. Whether you’re taking the first steps or have been trading for a while and looking to grow, a Start Up Loan can help you achieve your business goals.

UK start-up loan

A start-up loan is a business loan designed to help new UK businesses launch and grow. Like any other business loan, it’s a lump sum of capital that you pay back with regular repayments at a fixed interest rate.

How to do UK start-up loan work?

Start-up loans are designed to bring a seed or early-stage business to life. They inject early money to pay for concepts, testing, designs, prototypes, machinery, plans, legal needs, premises, marketing, staff costs and more. Often, a start-up loan is the only cash a company has when it first begins to operate, and these loans are often provided when the business is little more than an idea.

Types of UK Strat up Loan

The primary source for start-up loans is the UK Government-backed Start Up Loan scheme. These loans are unsecured, enjoy a lower rate of interest than typical business loans offered by commercial lenders, and are provided by the British Business Bank. Swoop is part of the UK-wide network of referral partners for government Start Up Loans.

Apply today to discover if your business is eligible for this type of loan.

• Traditional business loans
• Asset-backed loans
• Merchant cash advances
• Funding from Angel investors
• Grants
• Business credit cards

How to Apply for the UK Start-Up Loan

To apply directly to the government’s Start Up Loan click here. To discuss alternative finance options to kickstart your new business, register with us and speak with an expert who can guide you through the process of sourcing funds.

Alternative business funding can be sought alongside your application for a government-based grant, regardless of your current financial position. Whether it is through the government scheme or alternative funding, once you have secured your funds, something well worth considering is open banking software. Once implemented, the innovative systems allow for a transparent view of your company’s cash flow, meaning lenders will have a greater tendency to work with you in the future.

Eligible

If you can meet the following criteria, you are eligible for a government-backed Start Up Loan:

• You must be at least 18 years old
• You must live in the UK
• You must have the right to work in the UK
• Your business must be based in the UK
• You must prove that you were unable to acquire a loan from alternative sources
• You must prove that you can afford the loan repayments
• Your business must have been trading for no more than 24 months