Start Up Loans

Loans and Mentoring for UK Start-Ups

Wattsford Commercial Finance has partnered with the Business Enterprise Fund to deliver the Start Up Loans scheme to UK entrepreneurs.

Start Up Loans is a government backed scheme, providing repayable loans and mentoring to individuals in the UK with a viable business idea but no access to finance. We will help you through the application process, including advice on creating a business plan and cashflow forecast. There are no fees charged for obtaining a Start Up Loan.

What is a Start Up Loan?

A Start Up Loan is a personal unsecured loan for business purposes. Applicants must be 18 years or older at the time of application and live in the UK. Individuals can receive one loan, however up to 4 partners in a business can apply for a Start Up Loan. Please note that you will be credit checked as part of your application.

Start-up business loans are for people who either want to set up a new business or already have a business that has been trading for less than 2 years.  For many businesses trading for less than 2 years it can be difficult to access finance, as Commercial Finance Brokers we’re often able to help clients secure larger sums of money and provide access to Angel Investors.

  • £500 to £25,000 Finance Available
  • Access to Top Up Funds
  • 6% P.A. Fixed Interest Rate
  • £7,000 Average Loan Size
  • For Pre-Start Businesses
  • For Businesses Trading 0 to 24 Months
  • 1 to 5 Year Loan Term
  • No Application Fee or Early Redemption Fees
  • For UK Based Businesses
  • Government Backed

Are you Eligible?

If you can answer yes to these 3 statements then you are eligible to apply:

  1. Are you 18 or over?
  2. Do you live in the United Kingdom?
  3. Has your business not started trading yet or been trading for less than 2 years?

If so, that’s great! If not as Commercial Finance Brokers we provide a complete business finance service to our clients. For more information on this please Contact Us or call 01609 531740.

4 Step Guide to the Application Process

  1. Complete the registration form below and the application form on the Start Up Loans website.
  2. Complete your business information and upload any documents requested, or continue without them for now.
  3. One of our Business Advisors will review your documents, help you perfect everything and assess your application.
  4. Sign the loan agreement, receive the money in your bank account and get assigned a mentor.

Nearly There

Each business founders (partner, director and or shareholder) can apply for a Start Up Loan. Loans are available from £500 up to £25,000 per applicant.

If your business partners are also applying, they will need to complete the application form too. Final loan amounts are assessed on the needs of your business.

When applying for a start up loan a credit search will be carried out by The Start Up Loans Company. There are several Credit Reference Agencies including Equifax, Experian and CheckMyFile.  CheckMyFile provides a detailed online credit report from Equifax, Experian, TransUnion and Crediva.  You can get a 30 day free trial with CheckMyFile if you have never checked your credit score with them before.

Please Note that this is not grant funding. Meeting monthly repayments form a primary condition of the Start Up Loan Agreement you accept and sign. Like other credit commitments, failed Start Up Loan repayments may affect your credit record and formal action may commence against you for missed loan payments.

If you have any difficulty completing the form or require more information please call us on 01609 531740 or Contact Us.

All Good?

Then let’s get started…

I agree when I click the Submit button below to being directed to the Start Up Loans website to continue my application. Please complete the form straight away to work with Wattsford Commercial Finance on your application. You will need to consent to their credit and eligibility checks in order to progress with your application.

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