Start Up Loans
British Business Bank programme: Start-Up Loans
The Start Up Loans programme is funded by the Department for Business, Energy and Industrial Strategy (BEIS) and is delivered by The Start Up Loans Company (SULCo), a subsidiary of the British Business Bank.
It aims to encourage entrepreneurship in the UK, increase the rate of business creation and improve survival prospects.
More specifically, the programme offers loans (up to £25,000 at 6% fixed interest) alongside free mentoring and support to individuals who are starting a new business or who have been trading for less than two years.
As at end of May 2017, the Start Up Loans programme had lent £319m to more than 48,000 entrepreneurs.