Small business start up funding
Have you ever wondered how to finance a small business?
If you've had dreams of starting your own company but haven't got the financial backing, a Start Up Loan could be the answer.
Providing you're eligible for a loan, you could receive up to £25000 in government funding.
On top of this, we offer free mentoring, advice about finance and small business support to all of our beneficiaries.
We're on hand to help you with every step of your business.
How to find small business start up funding
A Start Up Loan is just one of the many start up business funding sources available to you.
We are a government-backed initiative, providing personal loans for business purposes.
So, how can you apply for a Start Up Loan for your business?
In this section, we'll talk through the process of applying for small business funding.
Before applying for a Start Up Loan, you'll need to check your eligibility.
Providing you're aged over 18, a UK resident and applying for small business funding for a UK-based business that has yet to start or been trading for less than 24 months, you could be eligible.
Check your eligibility now.
The Start Up Loans business funding process
After registering with Start Up Loans, you'll need to create a business plan and cash flow forecast.
These documents will form the basis of your application for small business financing.
Not sure how to draft these documents?
Not to worry, a member of the Start Up Loans Company, or one of our Business Support Partner representatives, will be on hand to offer more help and advice.
It's best to make both documents as detailed as possible, we want to know as much information as possible about your business idea and predicted revenue.
Once you've completed your application for a Start Up Loan, your Delivery Partner will submit your application for small business finance.
We'll then be in touch to let you know if your application has been successful.
If it has, you'll receive your agreed loan along with a number of exclusive business offers, including discounted website design, free accounting software and legal advice, as well as mentoring and business advice.
From then on, your loan is all yours to help finance your business.
We'll also assign you an expert mentor who will be on hand with advice and tips for making your business a success.
Remember, you have 1-5 years to pay back your loan.
Also, we'll never charge you for submitting an application or for repaying early.
Want to learn how to manage your start-up’s finances? Check out our free online courses in partnership with the Open University on being an entrepreneur.
Our free Learn with Start Up Loans courses include:
- Introduction to bookkeeping and accounting
- Companies and financial accounting
- Financial methods in environmental decisions
Plus free courses on finance and accounting, project management, and leadership.
Disclaimer: The Start -Up Loans Company makes reasonable efforts to keep the content of this article up to date, but we do not guarantee or warrant (implied or otherwise) that it is current, accurate or complete. This article is intended for general information purposes only and does not constitute advice of any kind, including legal, financial, tax or other professional advice. You should always seek professional or specialist advice or support before doing anything on the basis of the content of this article.
The Start-Up Loans Company is not liable for any loss or damage (foreseeable or not) that may come from relying on this article, whether as result of our negligence, breach of contract or otherwise. “Loss” includes (but is not limited to) any direct, indirect or consequential loss, loss of income, revenue, benefits, profits, opportunity, anticipated savings, data. We do not exclude liability for any liability which cannot be excluded or limited under English law. Reference to any person, organisation, business or event does not constitute an endorsement or recommendation from The Start-Up Loans Company, its parent company British Business Bank plc, or the UK Government.
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