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Start up loans

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.  The UK Government has already helped over 3,700 companies in Scotland with start up loans.

What is a start up loan?

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 can also receive free business support and mentoring to help with starting and growing your business.

How much loan can I apply for?

You can apply for a personal 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 if you require it, 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

Apply now - external link

More information

You can also find help and advice with starting a business from the Scottish Government.