A Start Up Loan is 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.

Credit worthiness: As part of your application, you will be required to have a credit check that reviews your past and current There are three main areas that your Business Adviser will consider when they’re reviewing your Start Up Loan application: your credit worthiness, whether or not you can afford to take on the loan and whether your financial behaviour. While a poor credit history will not prevent you from securing a Start Up Loan in all instances, this part of the application process is part of our commitment to responsible lending and helps us ensure our applicants don’t overburden themselves.

Personal affordability: As Start Up Loans are personal loans used for business purposes, you will be liable for repaying your loan even if your business plans change in the future. While Start Up Loans are non-secured (you do not have to put forward any collateral to guarantee the loan) you will need to fully repay the loan and any interest due over the course of your agreed loan term. The Personal Survival Budget that you must submit with your application, which outlines your key sources of personal income and any expenses you incur each month, supports us in making this assessment.

BIZ BANK Ltd will help with you Start Up Loan application. We will prepare Business Plan, Personal Survival Budget and Cash Flow. Before we start to work on your application we will do your credit check with Business British Bank.

What you’ll need to apply: