Start-up Loans
If you are 18 - 30 years old, you can apply for Start-up Loans, with access to personal support to help develop your business plans and access training.
You can get more information and apply for a loan at the Start-Up Loans website.
FAQs about Start-up Loans
Am I eligible?
To apply for a loan you should be 18 - 30 years old, living in England and thinking about starting a business.
When can I apply?
You can get more information and apply for a loan today at the Start-Up Loans website.
What is the application process?
This may differ depending on the Start-Up Loan provider you choose to go with but, in most cases, it will involve submitting a business plan on which your application will be based. You may also be invited to talk through your business or idea in person.
What kind of loan is it?
The Start-Up Loan is a personal loan.
If I receive a start-up loan, what are the payback terms?
You will be required to pay back the loan within three to five years at a fixed APR (annual percentage rate) of 3% plus RPI (Retail Price Index) which is currently 3.5%.
What else do I receive?
As well as the loan, you receive business support and mentoring and a free copy of the StartUp Loans Kit, which offers all the guidance you need to start a business plus more than £500-worth of offers on products from business cards to websites, netbooks and work suits.
Two free guides are available now to help you with starting a business:
The Home Business Guide – starting and growing a business from home
Make Business Your Business – starting and developing a new business
About Great Business
Government and other partners are working together to support new business startups and growth.
Between us, we've got all the advice, inspiration and practical help you need to turn a dream into a working, profitable business.
Get business support and advice over the phone
Business Link Helpline
Telephone: 0845 600 9006
Monday to Friday, 9am to 6pm
Crown Copyright 2013 unless otherwise stated.
14 comments
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jerome mckenzie lewis
May 28, 2012
Hi i have been waiting for an opportunity to start a Caribbean restaurant in reading, and have not been able to raise the finances to do so. i am very interested in this opportunity and would like it if you consider and give me the chance to become a young businessmen.
Tim@businessinyou
May 29, 2012
Hi Jerome, sounds like you have a good idea for a business. Check out the Find Finance page on this website and sign up for more information in the top right corner of this page. We’ll keep you posted about Start-up Loans and other sources of finance and support.
Katy Elsdon
May 29, 2012
Hi
I am interested in the start up loan scheme. I am aged 24 and living in England- I have been developing my vintage clothing business for some time now from personal savings and feel this would be a great aid to myself as I aim to open a small selling space in the near future.
I feel this is a great time to open such a store due to increasing high street prices and peoples ever longing to wear unique and timless pireces without the price tag.
Look forward to hearing from you.
Kind Regards
Katy Elsdon
Tim@businessinyou
May 29, 2012
Hi Katy, thanks for your interest. You can sign up for more information in the top right corner of this page and we’ll let you know when applications are open and details of the eligibility criteria.
garry grant
May 29, 2012
I am interested in setting up my own business please can you send me information on what i need to do to apply, thanks
Tim@businessinyou
May 29, 2012
Hi Garry – please sign up for more information at the top right of this page
charles cracknell
May 29, 2012
who are adminstering the scheme for youth start up loans in the Hull and humber area
Diane
May 29, 2012
Is this where I sign up? I have been working on a business plan for some time now and need extra help to go through it, when will all this be starting?
Tim@businessinyou
May 29, 2012
Hi Diane. Please sign up for more information at the top right of this page. We will let you know when the application process begins. If you would like help with your business plan take a look at the information in our pages about advice and mentors. Good luck with the Business in You.
thomas cutten
May 29, 2012
i am very instrested in this as i already have a job plan for my own buiness
Riyadh
May 29, 2012
Please give me information support available to young entrepreneurs starting up.
Regards,
Riyadh
Tim@businessinyou
May 29, 2012
Hi Riyadh, take a look at the information on this site for people wanting to start a business and sign up at the top right of this page for more updates.
Joanne Moriarty
May 29, 2012
Would like information on about the startup loan. I am a hairdresser and want to start my own business in hair and beauty. Thank you.
Tim@businessinyou
May 29, 2012
Hello Joanne. Please sign up at the top right of this page for further updates on Start-up Loans and take a look at information on this site for help with your business planning and more advice. Good luck with your business idea.