Good news! Changes to the eligibility criteria for the Start Up Loan scheme means more people can now apply for support.

The British Business Bank has extended the scheme to reach even more entrepreneurs with its popular package of finance, support and mentoring. 

What are the changes?

  • First loans - applicants with a new or early-stage business trading for no more than 36 months can now apply (increased from 24 months)
  • Second loans - existing Start Up Loans borrowers with a business trading for no more than 60 months can apply (increased from 24 months)

The changes came into force on 10th March 2022. You can find out about other eligibility criteria here.

What is a Start Up Loan?

Start Up Loans are a Government-backed scheme, helping more people to start businesses. It's a low-interest loan, a great alternative to a traditional bank loan if you’re looking to fund a business idea. Customise your loan to borrow the exact amount you need, when you need it. 

Loans come with the backing of a free mentor to help guide you through the early days and maximise the impact of your loan.

And now, second loans are available to provide extra support to more existing customers. Find out more details here. 

Who is Transmit Startups?

We’re the leading national delivery partner for the Start Up Loans scheme. We’ve backed almost 11,000 entrepreneurs with £140million - and counting! 

Our three directors and many others in our team have run their own companies – some successes and some failures – so know what it’s like to start up.

We pride ourselves on delivering a friendly, efficient, customer-focused service. The type of service we would like to receive for our own businesses. 

Find out more about Start Up Loans here.