Start Up Loans are government-backed loans designed to help new and growing businesses access affordable finance. The scheme supports entrepreneurs across the UK with funding of up to £25,000 per director, alongside free mentoring and business support.

Unlike traditional business finance, a Start Up Loan is a personal loan used for business purposes. This makes it a popular option for startups and newer businesses that may not yet qualify for larger commercial lending products.

Start Up Loans can be used for:

• Launching a new business
• Purchasing equipment
• Marketing and advertising
• Stock and inventory
• Working capital

Key features of the scheme include fixed interest rates, manageable repayments and no early repayment fees. Businesses trading for less than five years may be eligible to apply.

For entrepreneurs looking to turn a business idea into reality, Start Up Loans provide an accessible and affordable way to secure funding and support.