Everything you need to know about StartUp Loans
A total of £82.5m has been made available for the StartUp Loan
scheme for young entrepreneurs. The scheme is expected to generate
in excess of 30,000 new businesses, creating employment and
Who can apply
Anyone aged 18-24, based in England and with a viable business
plan will be in with a chance to win a loan of up to £2,500 to
start their own business.
How to apply
Loan providers and partners will soon be announced. Once these
details have been made you should choose the provider that suits
you best. Keep an eye on www.startupbritain.org for further
You're likely to be asked to provide a business plan with
details of your idea. You should also expect to be invited to go
and talk through the proposal in person.
The young entrepreneurs with the best ideas will receive a loan
of up to £2,500 as well as advice and guidance with the most
promising business ideas getting formal mentoring and training.
Applicants will be required to pay back within three to five
years at a fixed annual percentage rate (APR) of 3% plus RPI,
currently at 3.5%.
For more information about the StartUp Loans scheme click