What can I use my £3,000 start up loan for?

05/08/22

Do you have a new start-up business? Are you thinking about your finance options? Have you wondered how you could use up to £3,000 to help your business? If you answered yes to these questions, then a start-up loan could be for you. As an official delivery partner of the Start Up Loans scheme, Business in Focus can support you to access funding to help get your business up and running.

What is a Start Up Loan?

A Start Up Loan is personal loan that you can use to help start up your business. Administered by the British Business Bank, a Start Up Loan is a government-backed scheme that provides low interest, repayable loans as well as free business support. It is available from launch up to 36 months trading.

What can I use my Start Up Loan for?

Start Up Loans can be used to fund many areas of your business. There are so many ways to use your loan. The type of business you own can influence what you spend your loan on. Your loan is there to be used to help your business develop. Whether this is for premises, equipment or new stock for your business or PR and marketing to get your business known, a Start Up Loan can help you achieve this. You could also use your loan for wages for your employees as well as transport costs. With a repayment period from 1 to 5 years, your loan can help your business start on the right foot.

What can a Start Up Loan offer you?

This small loan can offer you a fixed interest rate of currently 6%, no application fees and free mentoring for the first year of the loan, along with access to exclusive business offers. The free mentoring from expert advisors is an extremely valuable source of additional help and support that can help improve and develop your business.

Business in Focus also offers help and advice including 1-2-1 business support, a range of templates like a business plan template and many how-to guides. You can also benefit from having support writing business plans and cash flow forecasts, needed for your loan application.

Applying for a Start Up Loan is easy. With no application fees and free business support, a Start Up loan could help you take your business, or idea to the next level.

For more information and to check eligibility, visit the Start Up Loans page on our website