Start Up Loan Registration
Transmit Startups delivers the Start Up Loans scheme to UK entrepreneurs. Start Up Loans is a government backed scheme, providing repayable loans and mentoring to individuals in the UK with a viable business idea but no access to finance.
We will help you through the application process, including advice on creating a business plan and cashflow forecast. There are no fees charged for obtaining a Start Up Loan or any of the services associated with it.
To get started, please read the information below then complete the short registration form at the bottom of the page.
SOME KEY DETAILS
So, what is a Start Up Loan?
A Start Up Loan is a personal loan for business purposes. We lend to applicants who are 18 years or older at the time of application. Individuals can receive one loan, however, more than one partner in a business can apply for a Start Up Loan. Please note that you will be credit checked as part of your application. You must be aged 18 or over and based in the UK. The loans are unsecured personal loans but can only be used for business purposes.
£500 – £25,000 Finance Available
6% P.A. Fixed Interest Rate
£7,000 Average Loan Size
For Businesses Trading 0-36 Months
1-5 Years Loan Term
No Application Fee or Early Repayment Fee
For UK-Based Businesses
BEFORE YOU START
Are You Eligible?
If you can answer yes to these 3 statements then you are eligible to apply:
I am aged 18 or over
I live in the United Kingdom
My business is not yet trading or is less than 3 years old
If so, great! Read the following information then complete the application form.
If you have any difficulty completing the form, please call us on 0191 490 9328 or use the live chat facility at the bottom of the screen.
The 4 step guide to the application process
THE APPLICATION PROCESS
Complete the registration form on the Transmit website and the application form on the British Business Bank's Start Up Loans website.
Complete your business information and upload any documents requested, or continue without them for now.
One of our Business Advisors will review your documents, help you perfect everything and assess your application.
Sign the loan agreement, receive the money in your bank account and get assigned a mentor.
Each founder (partner, director, shareholder) can apply from £500 up to £25,000. If your business partners are also applying, they should complete the application form too. Final loan amounts are assessed on the needs of your business.
Please note that this is not grant funding. Meeting monthly repayments form a primary condition of the loan agreement you accept and sign. Like other credit commitments, failed Start Up Loan repayments may affect your credit record and formal action may commence against you for missed loan payments.