What a Start Up Loan is
A Start Up Loan is government-backed and, unlike a business loan, it is an unsecured personal loan, so you borrow and repay it as an individual rather than through the business.
The loan is available across England, Scotland, Wales and Northern Ireland.
Help that comes with the loan
You get free support and guidance to write your business plan, and successful applicants get up to 12 months of free mentoring.
Get ready to apply
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Check you meet the three conditions
Confirm you live in the UK, are 18 or over, and that your business has traded fully for less than 5 years or has not started yet.
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Work out what you can afford to repay
The loan is personal and repaid over 1 to 5 years, so check the monthly payments fit your own finances, not only the business.
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Prepare your business plan
Draft it yourself, or use the free support that comes with the loan. A cash flow forecast shows how the business will cover the repayments.
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Apply online
Apply on the Start Up Loans website and expect a credit check.
Legal basis
Primary legislation and key regulations
Browse UK legislation (opens in a new tab) legislation.gov.uk