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Start Up Loans

startuploans.co.uk/free-start-up-guides

What are they?SUL Delivery Partner

A government funded scheme to provide advice, business loans and mentoring to start up businesses via a network of  local delivery partners.

Chamber Acorn Fund (Humber) Ltd is a Start Up Loan local delivery partner.  

Who can apply?

Anyone aged over 18 at the time of registration and living in the UK, is eligible for a loan. You need an acceptable business idea and want to use loan monies to support this venture. You may have already started trading but can still apply as long as you have not been doing so for more than 12 months, or 24 months if still in start-up mode.

How much?

Loans are available from £1,000 to £25,000 at a fixed interest rate determined by the Start Up Loan scheme (currently 6%) and can be taken over periods up to 5 years.  No security is required.

How do I Apply?

All applications need a business plan and 2 years cashflow projections as well as details of your personal finances. A free business mentor can be allocated to assist you with the business planning.

You will also need to have available:

  • A Credit Report– this can be completed on a number of websites including www.experian.co.uk and www.creditexpert.co.uk
  • 3 months personal bank statements
  • Financial accounts if your business is over 12 months old.

All applications will be dealt with quickly. Loans up to £9,500 will take approximately 7 days and those above that figure up to 2 weeks providing that all information is to hand.

An application form can be downloaded here.

You can also find further information and register your interest on the Start Up loan website: https://www.startuploans.co.uk/

What is a start up loan

As you are probably aware a large percentage of new businesses fail to survive their first two years. If you have no experience or training in business matters it is essential that you get the right advice when embarking on a new business venture.

Start Up Loans Mentoring Scheme

The Government backed Start Up Loan not only gives the opportunity to apply for a loan it gives access to a free business mentor for the first 12 month of the Start Up Loan – not just at the beginning. A business mentor can be as important as a Loan

 

Further information

The Start Up Loan Company has a free download entitled "The Essential Guide to Starting Your Business"  and has also created the "Start Up Toolkit 2017" - a month by month guide to important business deadlines, with advice on self-assessment and tax, time-management and planning techniques, plus dates for start-up events across the UK.

You can download the guides free using this link:

startuploans.co.uk/free-start-up-guides

The Start Up Donut is also useful source of information for your business. Please see the following link or go to our “other resources” page for more details

Start-up DonutMarketing Donut

Complaints

We treat our customers fairly throughout the loan process from applying, to, hopefully, receiving and ultimately repaying the loan.

However, from time to time things do go wrong. If this is the case, please tell us about any problem or dissatisfaction with our products or service and we will investigate your complaint thoroughly.

Full details of the process can be found here:

complaints process

 

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