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Start Up Loans

Who it is for

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.

Support you can get

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 organisers

• Enterprise Northern Ireland

Phone:

0344 264 2600

Next Steps

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