A start-up loan is a government-backed personal loan available to individuals looking to start or grow a business in the UK. You must also fit a certain criteria to be able to receive a loan. Some of the criteria includes, but is not limited to:
– Being eighteen years of age or older
– You must be starting a new business or have been trading for less than 36 months
– You are unable to secure finance from other sources
– You are a current resident of the UK with full rights to work
– Your business must be based within the UK
To make things as uncomplicated as possible, the application for the loan is divided into three easy steps. First, check eligibility and register. Next, complete the application form, and lastly, finalise your business documents for inspection.
With already tens of thousands of individuals helped to get their businesses up and running from beauty salons to boutiques, food trucks to mobile phone repair companies, whatever your business idea is, there are multitudes of inspirational stories of entrepreneurs who built something great with the help of a start-up loan from the British Business Bank. And, who knows? Maybe you’ll be next.
For more information and details about the British Business Bank and their Start-Up Loans Programme, reach out to us alternatively, if you are ready to move forward, use this link to get the ball rolling. Their website provides a wealth of information as well as the success stories, challenges, trials and tribulations of previous loan-holders as they grew their enterprises.