Turn your business idea into reality

To qualify for a Start Up Loan you need to:

• Be 18 years old or above
• Live in the UK
• Pre-start or have been running a business for up to 36 months
• Not be able to access money from somewhere else. A self-declaration is all we need to understand your situation.
• Own a UK-based business
• Have the right to work in the UK
• Meet the scheme's rules for your business and what you need the loan for
• Pass credit checks and show that you can pay back the loan

Meeting these criteria means you’re on the path to unlocking your business's potential with a Start-Up Loan. Ready to start? Apply for a Start Up Loan today

You can use your loan for lots of different things that will help your business, like buying equipment, getting stock, renting a place, or promoting your business.

But remember, you need to explain in your business plan and cash flow forecast how you'll use the loan to make your business better. You should describe what you'll do with the money and how it will help you start or grow your business.

You can't use the loan to pay off debts, cover training or education costs, or invest in opportunities that aren't part of building a lasting business.

No, you don't put up any assets or personal guarantee as security. What's more, you don't have to pay any fees for the application or early repayment of your loan.

Usually, it takes about six weeks to get everything sorted, but it can be different for everyone. Once you send in your application, one of our Investment Managers will help you move things along.

We've noticed that the more you stay in touch and work with your advisor, the faster you'll get your loan.

Yes, you use a Start Up Loan to purchase a franchise.

Yes, you use a Start Up Loan to purchase a an existing business.

Don't worry if your personal credit history isn't great – it won't automatically stop you from getting a Start Up Loan. But we do take it into account when we're looking at your application. We want to make sure we're lending responsibly, so we'll check how you've managed money before and if you can handle paying back the loan now.
 

Because of this, we can't lend money to people with some credit issues. These can include things like:

• You are filing for or currently bankrupt or on a Debt Relief Order (DRO)
• You have an outstanding Individual Voluntary Agreement (IVA) or Trust Deed

Just to let you know, each application is looked at on its own, and sometimes we might say no for other reasons related to credit. This is especially true if giving a loan might make it hard for someone to handle their money.

Yes, we do.

Last year we delivered 826 Start Up Loans. 41% of these loans supported businesses led by women. We are ready to support you too.

The Open University provides a selection of free courses perfect for individuals starting their own business for the first time.

The courses provide rich information covering subjects such as:

• Entrepreneurship
• Career and Leadership
• Finance and Accounting
• Sustainability
• Project Management

Explore the courses.

The Start Up Loans Company is a wholly owned subsidiary of British Business Bank plc. It is a company limited by guarantee, registered in England and Wales, registration number 08117656, registered office at 71-75 Shelton Street, Covent Garden, London, England, WC2H 9JQ.
 

British Business Bank plc is a development bank wholly owned by HM Government. British Business Bank plc and its subsidiaries are not banking institutions and do not operate as such. They are not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA).

A complete legal structure chart for the group can be found at www.british-business-bank.co.uk.