Start Up Loans
Summary:
All owners or partners in a business can individually apply for up to £25,000 each, with a maximum of £100,000 available per business.
Eligibility criteria:
To be eligible to apply for a Start Up Loan, those applying must meet the following criteria:
- Be a current UK resident.
- Be 18 years of age or older.
- Be starting a new business or have been trading for up to 36 months.
- Have the right to work in the UK with their business based in the UK.
- Be unable to secure finance from other sources (self-declaration is ok).
- The type of business and reason for wanting the loan is eligible under the terms of the scheme.
Additional information:
Enterprise NI is the Business Support Partner delivering Start Up Loans, on behalf of British Business Bank, in Northern Ireland.
A Start Up Loan is a personal loan for business purposes for a term of 1 to 5 years at a fixed rate of 6% per annum.
Applicants must be aged 18 or over at the time of the application. A credit check will be completed.
- All owners or partners in a business can individually apply for up to £25,000 each, with a maximum of £100,000 available per business.
- The average loan amount is £9,295.
- Fixed interest rate of 6% p.a.
- One to five year loan repayment term.
- Free application support.
- Free post-loan support and mentoring.
- Free templates and guides.
- No application or set-up fees.
Support organisation:
- Enterprise Northern Ireland
Phone:
0344 264 2600
Find out more:
Enterprise Northern Ireland Start Up Loans
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