Access to Start-Up Loans is a route which New Business Owners can look towards when struggling in getting much-needed finance from the traditional lending route.
A Start-Up Loan is a government-backed initiative aimed towards helping those new businesses who are just starting out and unable to secure financing elsewhere. This form of finance is taken out by business owners themselves by way of a personal loan and can be for any amount between £500 and £25,000 for up to a five-year repayment term. There are no fees or charges for early settlement, and to be eligible for a start-up loan the business must have been trading for less than two years.
For those considering, or in the process of setting up their business, or even perhaps in the early stages of trading chances are that they’d require some form of independent financial support as to the best way to access finance.
The early stages of owning and running a business can often be an exciting but daunting experience for many a for business owner and/or entrepreneur.
For those businesses successful in applying to Start-Up Loans, For them, it’s proven to be a useful way to pay for things like new equipment, refurbishing premises or sort out their business markleting.
Our finance partners can help guide and make sure a start-up loan application goes through smoothly, need to know more let us know.