Business start-up loans and grants are available to business owners whose business has been trading for less than three years. They are commonly used as a method of funding for self-employed businesses.
Businesses will initially undergo an online eligibility check to confirm that they may proceed with an application.
Business start-up loans and grants are unsecured.
The scheme is intended for start-up businesses. A well-planned business venture should stand a good chance of achieving funding.
There is a lot of business start-up support given to you throughout the application journey, as well as after the business loan for a start-up has been taken.
Business loans for a start-up 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.
If you’re considering a start-up loan for your new business, get in touch with us today. One of our specialists will be able to advise you on how to get started with tailored advice for your business.
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.
Always do your own research and seek independent financial advice when required. Any arrangement made between you and any third party named or linked to or from the site is at your sole risk and responsibility.
SimpliFi assumes no liability for your actions.
