Services - Start-up Business Loans

Start-up Business Loans

Start your entrepreneurial journey, and make your idea a business reality with the help of a startup loan, apply today.

What is a Start-up Business Loan?

A start up loan is a type of business loan aimed to provide financial support to help people set up and get their business off the ground.

They are typically used to help businesses in their first two years of trading, a critical time for any business to survive and thrive. Understandably launching a new business will require funds, and whilst there’s a limited number of grants and funding options available, a start up loan can provide additional funding to get your business off to the best start.

What can I use a Start-up Business Loan for?

The main purpose of a start up loan is to help get the business started, so all funds must go towards this objective. They are reasonably flexible and broad as long as it is for business purposes.

Here are some typical examples;

As part of your business plan you should consider an itemised shopping list to identify everything you will need, and spend, to get the business up and running.

What is required to get a start up business loan?

It is often viewed that the applicant will need to put funds in themselves, however this isn’t always the case. In most cases, this can increase your chances of securing a loan to show that you are injecting and investing some capital into the business too.

Alternatively, family funds can also be used as a contribution. But don’t worry if you aren’t able to invest anything, our team of financial experts will discuss your options and potential lending opportunities in-depth.

Can I get a Start-up Business Loan?

Yes, as mentioned above if you meet the above criteria and have the appropriate documentation ready then you should consider applying for a business start up loan today.

Start up business loans positively support thousands of people and businesses each year, with the number of people setting up their own business increasing each year.

Over recent years new businesses have been set up and have gone from strength to strength as many industries are dramatically changing to meet consumer demands. Job roles and business types have adapted, with businesses setting up to support gaps in the new market.

So, if you have an idea for a new business then surely it is worth a shot? Whilst some sectors have specific restrictions, you could make your business a reality with the financial support of a startup loan.

How much can I get for a Start-up Business Loan?

Government schemes can typically offer upto £25k with a start up loan. If an applicant needs additional funds then brokers like ourselves can look at banks and lenders who can offer £25k+, however this will require security.

Rates can range from 6% to 9% on average, and terms can vary depending on the final lender.

Am I eligible to get a Start-up Business Loan?

In most cases yes, you would be eligible for a start up business loan with the above documentation.

The below criteria is also required:

Can I get a Start-up Business Loan?

Yes, as mentioned above if you meet the above criteria and have the appropriate documentation ready then you should consider applying for a business start up loan today.

Start up business loans positively support thousands of people and businesses each year, with the number of people setting up their own business increasing each year.

Over recent years new businesses have been set up and have gone from strength to strength as many industries are dramatically changing to meet consumer demands. Job roles and business types have adapted, with businesses setting up to support gaps in the new market.

So, if you have an idea for a new business then surely it is worth a shot? Whilst some sectors have specific restrictions, you could make your business a reality with the financial support of a startup loan.

How to get a Start-up Business Loan

The most important part of getting a startup loan is working with the right broker to identify the most suitable deal for you. Brokers have access to a much wider range of lenders that can provide you with the funds you need with the right terms.

We’ve broken down the typical process of getting a Start-up Business Loan below;

If it is not successful, brokers can try to explore other options and lenders, or perhaps a lower value loan, depending on your circumstances and the reasons why you may have been unsuccessful.

The real benefit of a broker is that they can negotiate with more than one lender who can take a view on the application. As experienced finance brokers we help our clients through the entire process providing expert guidance and support along the way. We will also signpost any other forms or options of finance available at the time.

Can I get a Start-up Business Loan with bad credit?

Apply for a Start-up Business Loan with Hilton Smythe

Here at Hilton Smythe, we like to have a conversation with you to understand your situation and start up business plans. We take pride in providing real value and expertise to guide our clients through what can sometimes be a complex or unknown situation.

Please don’t be afraid of reaching out to us to seek advice and expert help to guide you through the entire application process.

Book a confidential consultation