Startup Loans

by Startacus Admin
The recently launched Startup Loans initiative has been getting plenty of press, (both good and bad) on whether or not it really is a good option for a young person with an idea for a business to pursue. However, rather than getting our political hats on and giving our own tuppence worth, we thought we’d let you make your own mind up on whether or not it’s for you.
Startup Loans - the basics you need to know:
Who can Apply?
Currently the loans are open to anyone aged between 18-24 who is living in England and has a great idea for a business.
How to Apply?
The application process is currently very straightforward. There is a basic online form to complete. Once this is done, a Regional Delivery Partner will then contact an applicant to review their application, and assess how best to present the business idea or proposal to ensure the loan is awarded. That Delivery Partner will in turn be responsible for administering any loans to successful applicants.
What’s on offer?
The loan itself is a personal loan and it is expected that the average loan will be for circa £2500. All loans must be paid back within 3-5 years at a fixed APR of 6%. All interest is calculated on a monthly basis. Business support in the form of mentorship is also part of the package as is 6 months’ access to Regus Virtual Office package and business lounges globally.
When to Apply?
Applications are open now and the government has pledged that £10 million is available for the scheme. If it proves to be successful ( i.e. if applicants start paying back their loans and prove to have viable businesses), there are plans to increase the monies available by £32.5 million in 2013/2014 and by £40 million in 2014/2015.
Only time will tell how successful this scheme will be and if it really will have a positive impact on helping more startup businesses get off the ground. We say, watch this space...
Join the Self Start society! If you like what you see here on Startacus and want to get involved yourself, why not become a member of our growing community by joining for free here!
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
Want to gain an edge over your business competitors? Listening to your audience is an absolute must.

The Clothes Doctor mission to fight fast fashion continues as the innovative eco clothing care brand raises £1m to support further growth.

If you plan on using social media to promote your brand, these simple rules will help, increasing both brand awareness and the number of consumers.

High-potential social impact startups from the UK sought for the 9th annual Les Tremplins by Voyage Privé programme.

The lowdown on Danish startup EvodiaBio and its innovative tech that produces sustainable aromas for the food and beverage industry.

Small Business Britain’s ‘How to Grow’ report outlines how small businesses are responding to economic challenges and how they can grow during recession.

Odd Coffee Company - the startup that's tackling coffee wastage by offering sustainably-sourced surplus coffee, rescued from British roasters.

Tech Nation shares an overview of the impact they have had on the UK's tech economy and ecosystem.

The lowdown on London-based Tutti and its digital marketplace that connects event space owners with the creatives wishing to book them.

UK-based and got a business idea with a link to colour or colouration? A new investment fund from The Dyers' Company is well worth a look.
Published on: 8th October 2012







- Leading French Travel Co. Offers Mentoring to two UK startups on its prestigious two-month programme 23rd Jan 2023 High-potential social impact startups from the UK sought for the 9th annual Les Tremplins by Voyage Privé programme.
- Small businesses need new model for growth in recession 23rd Jan 2023 Small Business Britain’s ‘How to Grow’ report outlines how small businesses are responding to economic challenges and how they can grow during recession.
- Tech Nation responds to the DCMS Digital Growth Grant announcement 20th Jan 2023 Tech Nation shares an overview of the impact they have had on the UK's tech economy and ecosystem.
- Colour/dyeing industries- seed capital investment fund launches for UK entrepreneurs 19th Jan 2023 UK-based and got a business idea with a link to colour or colouration? A new investment fund from The Dyers' Company is well worth a look.