British Business Bank, through its partner the Start Up Loans Company, is providing loans of up to £25,000 – as well as mentoring and advice – to make sure budding businesses get the best start in life.
A Start Up Loan isn’t a business loan, but an unsecured personal loan. Alongside the funding, you’ll get free support and guidance to help write your business plan, and up to 12 months of free mentoring if your application is successful.
The interest rate is fixed at 6% per annum (per year) you can repay the loan over a term of 1 to 5 years and there are no fees for arranging the loan or paying it back early.
For further information and to apply visit Start Up Loans - small businesses can borrow up to £25,000
A grant of up to £2,000 is available to help individuals with the essential costs of starting a business. For further information visit Barriers to Start-up Grant for 25 year olds and over | Business Wales (gov.wales) and Young Person’s Start Up Grant for people under the age of 25.