» Start Up Loans
” Crest not only gives your business a resource in knowledge, but power! “
Raising Business Funding
We are working with Transmit Startups, the largest national delivery partner of the Start Up Loans scheme, a Government initiative set up in 2012.
Start Up Loans, of up to £25,000 per founder, are designed to help you get your business up and running. Transmit Startups approves hundreds of loans, for entrepreneurs like you, every year – from hairdressers and plumbers to app developers and film makers. Loans can be given to sole traders, partnerships, limited companies and franchisees.
Each founder can borrow up to £25,000, with a limit of £100,000 into any one business. The loans are charged at a fixed interest rate of 6% per annum and loans can be repaid between one and five years. You can sometimes take an interest-only period, of up to 12 months, at the beginning of the loan term.
Transmit will guide you through the application process, including advice on creating a business plan and cash flow forecast, and also provide free mentoring after receiving your loan. There are no fees charged for obtaining a Start Up Loan or any of the services associated with it. You can repay the full balance at any point, without penalty.
A Start Up Loan is an unsecured personal loan for business purposes. Individuals can receive one loan, however more than one partner in a business can apply for a loan.
To be eligible you must:
- Be aged 18 or over
- Be living in the UK and base your business in the UK
- Have an idea for a new business or a business that has been trading for less than 2 years
Most types of businesses will be considered. We will conduct a credit check, however lending is not necessarily solely based on the credit report.
Featured News Items
Billy Camden Funding rates for adult learners must be raised to the same level as 16 to...
Promised investment in skills training has been questioned after FE Week discovered £125 million...
You can get help from the government to pay for apprenticeship training. The amount you get...