Start up loans
The UK Government has already helped over 6,500 companies in Scotland with £58 million of start up loans.
What is a start up loan?
Government-backed start up loans are available to help people who want to start or grow a business that is less than 24 months old.
Start up loans are a great opportunity for individuals in need of a personal loan for business purposes to fund their new business. In addition to the loan you will also receive 12 months free business support and mentoring to help with starting and growing your business.
How much start up loan can I apply for?
You can apply for a personal start up loan to help fund your business ideas:
- Borrow up to £25,000
- Fixed interest rate of 6% p.a.
- 1 – 5 year loan repayment term
- No set up or early repayment fees
Use the Loan repayment calculator to help you work out what your total and monthly repayments will be, depending on the loan term and amount you choose.
What other support can I get?
You can also receive free business advice, which can give you the confidence and guidance to succeed:
- Pre-loan support with business plans and cash flow forecasts
- 12 months of free mentoring for loan recipients
- A range of useful templates and start up guides
- Exclusive business offers
Get started today
Find help and advice with starting a business from the Scottish Government.