Business Start Up Loans
16/06/2022

Financing a new Start Up business is one of the most crucial aspects of helping a new venture to succeed. Obtaining finance for a new business can be an arduous process. For example, borrowing money from a mainstream bank may not be an option or only possible with security conditions such as a personal guarantee. 

There is a government backed scheme known as the Start Up Loan scheme that may be able to help. This scheme offers personal loans to individuals looking to start or grow a business in the UK. Applicants that are accepted are also paired with a business mentor for 12 months. This loan is unsecured, meaning there is no need to provide any personal assets or guarantors to support an application.

Business owners or partners in a business can individually apply to borrow from £500 - £25,000 each, with a maximum of £100,000 available per business. The average loan amount using this scheme is in the region of £7,200. There is a fixed interest rate of 6% per annum with the option of a 1-to-5 year loan repayment term. There is no application fee and no early repayment fee.

To apply for the loan all of the following must apply:

  • you live in the UK
  • you are 18 or over
  • you have (or plan to start) a UK-based business that has been fully trading for less than 36 months.

About us  

Celerica are a firm of accountants and registered auditors (regulated by the Association of Chartered Certified Accountants).

Our team and associates have worked not only as accountants within the profession but also as Finance Director’s for businesses allowing us to use our wide experience to make a positive impact on your business.

The business was established in 2006 but its roots and relationship of the partners goes back to 1988.  Our client base extends across the UK and many different business sectors.  Though our office is in Leicester we take the ‘we will come to you’ approach and are always happy to travel to see you, wherever you are.

Contact us

First Floor
The Old Chapel
9 Kempson Road 
Leicester
LE2 8AN


0116 2838038
contact@celerica.co.uk

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