Start or grow your business

Start Up Loans

Q: You understand your business

You can explain what you do, who your customers are and how you'll make money.

Q: You have a clear plan

Your business plan sets out how you'll attract customers, generate sales and develop the business.

Q: You know what you need the money for

You've worked out how much you need and what you'll spend it on.

Q: Your numbers are realistic

You've considered the loan repayments alongside your business and personal finances.

Q: Your application tells one consistent story

Your business plan, financial forecasts and funding request all support each other.

Q: What can a Start Up Loan be used for?

A Start Up Loan can be used for a wide range of business purposes, including getting your business started, purchasing equipment, buying stock, covering operating costs and supporting working capital. You should be clear about what you need the funding for and how you intend to spend it

Q: Can I apply if I haven't started trading?

Yes. Start Up Loans are available to eligible founders who are preparing to start a business as well as businesses that have been trading for up to 60 months.

Q: How much can I borrow?

Start Up Loans are available rom £500-£25,000 for eligible founders.

Q: Can I get a Start Up Loan with bad credit?

A poor credit history will not necessarily prevent you from getting a Start Up Loan, but it will be considered as part of the assessment. The Start Up Loans Company reviews your past financial behaviour and your ability to afford the loan. There are certain credit circumstances where a Start Up Loan cannot be provided, including bankruptcy or a Debt Relief Order (DRO), an outstanding Individual Voluntary Arrangement (IVA) or Trust Deed, and being on a Debt Management Programme or Debt Arrangement Scheme (DAS). Every application is assessed on its own merits, and other credit-related factors may also affect the outcome, particularly where further borrowing could lead to unaffordable levels of debt.

Q: How does the personal credit check work?

There is no credit check when you first submit your enquiry. If you decide to proceed, the Start Up Loans Company carries out a personal credit check at a later stage as part of the application and assessment process.

Loan amount £11500

Duration 5year(s)

Monthly repayments

Total amount repaid

Borrow £500 to £25,000 to start or grow your business with a Start Up Loan delivered in partnership with the British Business Bank.

Start your application

What is a Start Up Loan?

A Start Up Loan is a government-backed personal loan designed to help people start a new business or develop an existing business.

Delivered through the British Business Bank's Start Up Loans programme, it offers £500 to £25,000 of funding at a fixed interest rate, with repayment terms of one to five years. Successful applicants also receive 12 months of free mentoring.

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See how a Start Up Loan helped a new business

Starting a business can feel like a big step. Hear from a founder who used a Start Up Loan to help turn their plans into reality.

Start Up Loan at a glance

Start Up Loans are personal loans for business purposes. They are available to people planning to start a business and eligible businesses that have been trading for up to five years.

Finance North West is an official Business Support Partner for the British Business Bank's Start Up Loans programme. We've been supporting applicants since the programme launched in 2012.

Not ready to apply? Talk to us

Start Up Loan £500 to £25k

For businesses starting out or trading up to 5 years

Borrow: £500–£25,000 per founder
Multiple founders: Up to £100,000 available
Interest rate: 7.5% fixed
Repayment term: 1–5 years
Security: None required
Arrangement fee: None
Early repayment fee: None
Mentoring: 12 months free mentoring

Start your application

What you need to know

Here's what you need to know about a Start Up Loan before deciding whether to apply.

What can a Start Up Loan be used for?

What will a Start Up Loan cost?

How quickly can I receive funding?

Can I repay my Start Up Loan early?

Do I need to provide security?

What support do I receive with a Start Up Loan?

What factors are considered when assessing an application?

How do I know how long my business has been trading?

Eligibility criteria

Getting ready to apply for a Start Up Loan?

Before you apply, it helps to have a clear plan for your business. A good business plan brings together your idea, your customers, your marketing, your finances and what you need the funding for.

Download a free business plan template

You understand your business

You have a clear plan

You know what you need the money for

Your numbers are realistic

Your application tells one consistent story

Why choose Business Finance NW for your Start Up Loan?

We're an experienced Start Up Loan partner

As part of the BEF Group, Business Finance NW helps applicants access Start Up Loans, backed by over a decade of experience supporting founders and small businesses.

You'll have support throughout the application

You'll have a dedicated adviser who can explain what's involved and help you understand what you need to prepare.

We're a not-for-profit lender

Business Finance NW is a CDFI. Our purpose is to help businesses access fair finance and support economic growth in the communities we serve.

Support continues after you receive your funding

Successful Start Up Loan applicants receive 12 months of free mentoring through the Start Up Loans programme.

How to apply for a Start Up Loan

1. Apply

Complete the form below. There's no credit check at this stage.

2. Talk to your adviser

We'll discuss your plans, explain what's involved and help you understand what you'll need for your application.

3. Prepare your application

You'll provide information about your business, finances and how you intend to use the funding.

4. Receive a decision

Once your application has been assessed, you'll receive a decision and, if approved, we'll explain the next steps towards receiving your funding.

Funding can be in place in as little as 3 to 8 weeks

Start your application

Start Up Loan FAQs

Got questions before you apply? Find answers to some of the most common questions about Start Up Loans below, or talk to our team if you'd like to discuss your circumstances.

Have another question? Contact our team

What can a Start Up Loan be used for?

Can I apply if I haven't started trading?

How much can I borrow?

Can I get a Start Up Loan with bad credit?

How does the personal credit check work?

What documents will I need to provide?

Ready to take your next step?

Whether you're preparing your business plan or ready to apply for a Start Up Loan, complete the form below and we'll help you take the next step.

What would you like to do?

If you've already applied for a Start Up Loan through the British Business Bank or another Business Support Partner, please do not complete this form. This form is for new applications only

I'm ready to apply for a Start Up Loan

I want to discuss my idea with a Business Advisor

First name

Last name

Email address

Mobile Phone

How much funding does your business need?

When would you ideally like funding in place?

How many founders or directors will apply?

How long has your business been trading?

Consent

I have read and agree to the Privacy Policy. I understand that Finance NW may contact me by phone, email or SMS regarding my enquiry and Start Up Loan application.

Stay updated

Keep me updated with funding opportunities, business support and services that could help my business grow.

Loan example (representative APR)

Representative Example - Personal Loan for Business Use Only: £10,000.00 repayable over 60 months at 7.8% Representative APR*. 60 months at the AIR** of 7.5% p.a for fixed monthly payments of £200.45. Total cost of credit of £2,027.00 and total amount payable of £12,027.00. Finance subject to status and 18+ only.

*Annual Percentage Rate (APR) is the total cost of the credit expressed as an annual percentage. It represents the actual yearly cost of credit over the loan term.

**Annual Interest Rate (AIR) is the rate of interest on a loan with the rate compounded on a daily basis.

These calculations are only for illustrative purposes and are not a substitute for professional advice.

Your actual loan terms may vary depending on your circumstances.

If you're not eligible for a Start Up Loan, we may be able to offer an alternative loan. Rates and terms will vary. Further information, and terms and conditions are available on request.

Important legal information

The Start Up Loans Company is a wholly owned subsidiary of British Business Bank plc. It is a company limited by guarantee, registered in England and Wales, registration number 08117656, registered office at 71-75 Shelton Street, Covent Garden, London, England, WC2H 9JQ.

British Business Bank plc is a development bank wholly owned by HM Government. British Business Bank plc and its subsidiaries are not banking institutions and do not operate as such. They are not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA).

A complete legal structure chart for the group can be found at www.british-business-bank.co.uk.