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Start Up Loan is a government-backed Route to Finance, introducing the scheme to incentivise, help and assist those people who wish to start-up a new business.
The Start Up Loan product is by way of a personal loan which is taken on by the individual or individuals of the business at a more favourable fixed APR rate (6%) than that of offered by normal traditional high street lenders.
This type of loan also enables applications to be made between £1,000 and £25,000 over a 1-5 years repayment term. PLUS there are no setup or early repayment fees.
Coupled with a low-interest loan, all successful Start-Up Loan applicants are also able to access Free Mentoring from experienced advisers via localised Delivery Partners.
