Small firms who have been in business for less than two years and who are unable to secure finance from other sources could be eligible for a Start-up Loan, a government-backed personal loan available to individuals looking to start or grow a business in the UK.
In addition to finance, successful applicants receive 12-months of free mentoring and exclusive business offers to help them succeed. The loan is unsecured, so there’s no need to put forward any assets or guarantors to support an application. All owners or partners in a business can individually apply for up to £25,000 each, with a maximum of £100,000 available per business.