A Start Up Loan is a government-backed personal loan available to individuals looking to start or grow a business in the UK.

The loan is unsecured, so you won't need to provide any assets or guarantors to support your application.

All owners or partners in a business can individually apply for up to £25,000 each, up to a maximum of £100,000 per business.

The Start Up Loans Company is a subsidiary of the British Business Bank. 

How it works

First, you'll need to complete an eligibility check online. If you are eligible, you'll need to register to begin the application process.

After you submit your online application, you'll be assigned to a dedicated business adviser. 

The business adviser will review your business plan and supporting documents and help you to get them ready for assessment.

You'll need to submit

• a business plan
• a cash flow forecast
• a personal survival budget
• personal bank statements for the 3 months before the date you apply

The assessment will consider the strength and viability of your business (based on your business plan and cash flow forecast) and the affordability of the loan (based on your personal survival budget).

If your application is successful, you'll also be invited to take part in 12 months of free post-loan mentoring.

You are eligible to apply for a loan if:

• you live in the UK
• you’re 18 years old or older
• you're starting a new business or have been trading for less than 24 months
• you pass the credit checks and can afford to repay the loan
• you’re unable to secure finance from other sources
• your business is UK-based
• you have the right to work in the UK
• your business type and loan purpose is eligible under the terms of the scheme

Most business types are eligible for a Start Up Loan. However, you cannot use this loan to fund businesses that provide or deal in:

• weapons
• chemical manufacture
• drugs
• banking, money transfer services, and other FCA regulated activities
• gambling and betting activities
• property investment

You are also not eligible if you are:

• a private investigator who does not hold the appropriate licence
• an agent for a third party, where the third party earns the majority of the revenue or you would only be earning a commission (but franchise businesses are eligible)
• a charity

It is free to apply for a Start Up Loan.  

Start Up Loans are backed by the UK government and charge a fixed interest rate of 6% per year.

You can repay the loan over a period of 1 to 5 years.

Individuals looking to start or grow a new business in the UK.

Applications must be completed within 90 days. 

Visit the British Business Bank Start Up Loans website to learn more and apply for a loan.