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Second Start Up Loan Registration

Need more?

If you’ve already secured a Start Up Loan for your business and have been trading for no more than two years, you may be eligible to apply for a Second Loan for that same business.

Whether it’s an unexpected opportunity or part of a structured growth plan for your business, you may find yourself in need of more finance.

Second Loans are designed to help with the continued growth of your business – it is not a fund to rescue your business.

The Application Process

The Application Process

The 4 step guide to the application process

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Step 1

Complete the short form below then the additional form on the British Business Bank's Start Up Loans website (you will automatically be redirected there).

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Step 2

The Start Up Loans team will conduct some eligibility checks and ask you to fill in the Second Loan application documents.

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Step 3

The Start Up Loans team will pass the information to us.

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Step 4

One of our business advisors will review your application and be in touch with the decision.

Before You Start…

Please read this list carefully to make sure you are eligible for a Second Loan:

  • Your business must have been trading for at least six months but cannot have been trading for more than two years.
  • The additional finance must be for the same business as your first Start Up Loan.
  • Your total outstanding Start Up Loans balance cannot exceed £25,000 at any one time (per individual). So if you borrowed £15,000 for your first Start Up Loan, and now have a remaining balance of £10,000, you are able to apply for a Second Loan of up to £15,000. You can find out your balance from GC Business Finance on bfsul@growthco.uk / 0161 245 4900 / 0161 245 4953.
  • The total lent to any one business cannot exceed £100,000 (including all individual business partners).
  • You will need to demonstrate that you can afford the ongoing repayment on your first loan and the new repayments on your Second Loan.
  • You must still meet all of the original Start Up Loan criteria.
  • You must have made six full repayments on your first Start Up Loan.
  • The repayments on your first Start Up Loan must be fully up to date at the time of applying.
  • In the last six months, you must not have had any late or missed repayments on your first Start Up Loan.
  • You cannot have been on a reduced repayment plan or Interest-Only period (capital repayment holiday) within the last six months.
  • All applications are subject to credit check and business assessment.
  • If your application is successful, your Second Loan will be treated as a separate loan to your first Start Up Loan, including separate monthly Direct Debit payments.

All good?

To begin your second loan application, please log back in to the customer portal.