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Go Start-Ups! Get new businesses off the ground with a Start-Up Loan from the British Business Bank

Author: ICAEW

Published: 06 Dec 2021

Ever thought of starting your own business but no idea how to start funding it?

Start-up loans are available to ‘early-stage businesses’ under two years old and come with pre and post loan support.

Key terms

  • The start-up loan is taken as a personal not a business loan.
  • The rate of interest charged is a flat 6%.
  • Borrow up to £25,000 per director up to 4 directors.
  • Repayment terms up to 5 years.
  • Capital repayment holidays available in the first year.

The process

The approval journey from end to end can be as short as five days or stretch to 18 months in an extreme case and loans are delivered via 23 national, regional and specialist delivery partners.

How a BAS firm can help

An ICAEW chartered accountant can provide further advice on all aspects of starting a business including company structure, employing staff, obtaining finance, accounting systems and key performance indicators.

  • Find a BAS firm here.
  • Find out more about the Start-Up Loans Company here.