Apply for a government-backed Start Up Loan of £500 to £25,000 to start or grow your business.
Unlike a business loan, this is an unsecured personal loan. You’ll get free support and guidance to help write your business plan, and successful applicants get up to 12 months of free mentoring.
Before you start
To apply for the loan all of the following must apply:
you live in the UK
you’re 18 or over
you have (or plan to start) a UK-based business that’s been fully trading for less than 24 months
Fees and repayment
Start Up Loans are government-backed and charge a fixed interest rate of 6% per year.
You can repay the loan over a period of 1 to 5 years. There’s no application fee and no early repayment fee.
For more details go to the Government website https://www.gov.uk/apply-start-up-loan