Start Up Loans
Start Up Loans – from The British Business Bank
DSL is a Business Support Partner delivering Start Up Loans as part of a network of Business Support Partners.
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. Applications must be aged 18 or over at the time of the application. A credit check will be completed
Features
- A Start Up Loan is a personal loan for business purposes.
- The loan is unsecured, so there’s no need to put forward any assets or guarantors to support an application.
- All owners or partners in a business can individually apply for from £500 up to £25,000 each, with a maximum of £100,000 available per business.
- 1-5 year loan repayment term.
- Fixed interest rate of 6% p.a.
- No application or set-up fees.
- There is no penalty for repaying the loan early or making lump sum reductions.
Who Can Apply For A Start Up Loan?
You can apply for a Start Up Loan if:
- You are at least 18 years old
- You are a current UK Resident
- You have the right to work in the UK
- You’re starting a new business or have been trading for up to 36 months
- You’re unable to secure finance from other sources (self-declaration is ok)
- Your business type and loan purpose is eligible under terms of the scheme
- Your business is based in Scotland
Please note that you will be credit checked as part of your application
To register for a Start Up Loan and check your eligibility please click here
The above calculator should be used for illustrative purposes only. Exact figures will be published in the loan offer documentation.
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Representative Example
The representative APR is the rate that at least 51% of people are expected to receive when taking out a loan within the stated amount and term range.
An example for Illustrative purposes:
Annual Interest Rate (fixed) is 6% p.a. (6.17% APR) based on borrowing £12,500 and repaying over 5 years in 60 monthly repayments of £241.66 each with total amount repayable of £14,499.59.
The loan calculator is designed to help you work out what your total and monthly repayments will be, depending on the loan term and amount you choose. We offer loans from £500 to £25,000 at a fixed interest rate of 6% per annum (6.17% APR) and you can choose a loan repayment term between one to five years. The APR remains the same for the loan amount and duration.
Get in touch to find out more.
Start Up Loans
Start Up Loans is part of the British Business Bank and delivers the Government’s Start Up Loans support for businesses who struggle to access other forms of finance. DSL Business Finance Ltd is the only official Regional Business Support Partner for Scotland and is headquartered in Scotland. For more information, please click here.
