Start-up Loan

New Business Loan

Providing expert guidance on Start-up loan applications. Our specialised assistance ensures your journey towards securing essential funding is straightforward and successful.

Navigating a Start-up loan application in the UK can be tricky, but you don’t have to do it alone. We’re here to help. As experienced accountants, our team specialises in guiding you through every step of the process. We understand what UK lenders are looking for, and we’re skilled at making your business plan and financial forecasts hit the mark. We aim to ensure your application stands out, showing lenders why your Start-up deserves their investment.

Every Start-up is different, so we customise our strategy to match your needs. We handle all the details, from creating clear business plans to sorting out those complicated financial statements. But we do more than just paperwork. We offer advice on presenting your business idea in the best light, increasing your chances of getting that all-important ‘yes’ from lenders. Choose us as your partner, and gain a team committed to turning your business dream into a funded reality.

Frequently Asked Questions

What is a Start-up Loan?
A Start-up Loan is a personal loan backed by the government and made available to individuals in the United Kingdom looking to start or grow a small business. This type of loan offers up to £25,000, with a fixed interest rate of 6% and the ability to repay it over five years. The maximum loan amount is limited to £100,000.00 per single business.
Yes, you need to provide a personal guarantee for a Start-up Loan in the UK. This means that if your business fails to repay the loan, you, as an individual, are personally responsible for repaying the debt. It’s important to understand that this is a personal loan for business purposes, and your personal credit history may be considered during the application process.
Applying for a Start-up Loan in the UK does not incur any application fees. The free process is an accessible option for individuals looking to start or grow their small business. However, it’s important to note that once a loan is granted, it will accrue interest at a fixed rate over the loan term. But there are no costs associated just with applying for the loan itself.
The timeline for receiving your loan can vary based on your business situation and readiness. If you have all your documentation and preparations in order, you might get the loan in as little as a month. However, the process may extend significantly longer if your application requires more time to finalise.

To be eligible for a Start-up Loan, you need to meet several critical criteria:

  • You must be 18 years of age or older.
  • You need to be a resident of the UK. The loan is designed for those who are either starting a new business or have an existing business that is less than three years old, and this business must be based, or planning to be based, in the UK.
  • You must have the legal right to work in the UK to qualify for this loan.
If your Start-up Loan application isn’t successful, there’s a mandatory waiting period of six months before you can reapply. This interval is intended to provide ample opportunity to refine and enhance aspects of your application that may have led to the initial rejection.