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Start-up Loan

A start-up loan is finance provided to the owners of pre-revenue or early-stage new businesses. It is offered and managed by approved lenders up and down the UK and funded by the British Business Bank.

 



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What are start-up loans?                   
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Eligibility and exclusions                   
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Benefits and scenarios                     
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Risks                                                
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       Things you can use to secure the finance
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Is a start up-loan a good fit for you?  
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What are start-up loans?

 

A start-up loan is a type of loan specifically for new
business owners to launch and grow. Loans range
from £500 to £25,000, with a fixed interest rate of 6%.

Eligibility and exclusions

 

Start-up loans are available to business owners
whose business has been trading for less than 
three years.

Businesses will initially undergo an online eligibility
check to confirm that they may proceed with an
application.

 

Benefits and scenarios

 

A start-up loan is unsecured. 

The scheme is intended for start-up 
businesses, a well-planned business venture
should stand a good chance of achieving
funding.

There is also a lot of support given to you 
throughout the application journey, as well
as after the loan has been taken.

Risks

 

These are personal loans, which means the
loan applicant is personally liable for the
borrowing.

This also means that if you are unable to keep
up repayments, it could negatively impact your
personal credit score and your ability to obtain
further credit.

Applicants will be subjected to a personal credit 
check at the outset of the application.

Things you can use to
secure the finance

 

You don’t need to have any collateral to help
secure a start-up loan. As it is a personal
loan, it means you are personally responsible
for its repayment. 

Think a start-up loan could be a 
good fit for you?

 

Speak to one of our finance specialists today
to find out how you can get started.

Find out more: 

This is information, not financial advice or recommendations

The content and materials featured or linked to are for your information and education only and are not intended to address your personal or business requirements. 

The information does not constitute financial advice or recommendation and should not be considered as such.

SimpliFi is not regulated by the Financial Conduct Authority (FCA), its authors are not financial advisors, and it is therefore not authorised to offer financial advice. 


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