WHAT IS A START UP LOAN?
Start Up Loans is a government-backed scheme, providing low-interest repayable loans and free business support. It’s a great alternative to a traditional bank loan if you’re looking to fund a business idea.
Transmit Start-Ups is a national delivery partner for the Start Up Loans scheme.
We are here to guide you through the application, making it as quick and easy as possible so the money is in your bank account when you need it. We’ll provide advice on creating a business plan and cashflow forecast.
Once you’ve received a loan we have a range of ongoing support services to help you make a success of your business.
There are no fees charged for obtaining a Start Up Loan or any of the services associated with it.
Some Key Details
Start Up Loans at a Glance
£500-£25,000 Finance Available
6% P.A Fixed
£7,000 Average Loan Size
Trading 0-24 Months
No Application Fee or Early Repayment Fees
For UK-Based Businesses
Who Can Apply For A Start Up Loan?
A Start Up Loan is a personal loan for business purposes.
We lend to applicants who are 18 years or older at the time of application. Individuals can receive one loan, however more than one partner in a business can apply for a Start Up Loan.
Please note that you will be credit checked as part of your application.
You must be aged 18 or over
You must be based in the UK
The loans are unsecured personal loans
The loans can only be used for business purposes
We can provide loans of up to £25,000 per person
- Each business founder (partner, director or shareholder) can apply for a separate loan
Repayments are made over a period of 1 to 5 years and have a 6% p.a. fixed interest rate
The monthly repayments for a £5000 loan would be approximately:
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For other loan amounts and repayment periods, use our Loan Calculator.
The Programme’s Aims
The Start Up Loans programme aims to provide mentoring and financial support to entrepreneurs that would not normally be available via traditional banking relationships.
- Foster a culture of entrepreneurship
- Support applicants to create and develop their business
- Boost to UK economic growth through supporting new businesses
- Build success for new ventures through expert advice and support
To do this we offer pre-application support to entrepreneurs, affordable loans on clear terms, ongoing support and access to useful product and service offers that would not normally be available to new businesses.