The Start-Up Loans initiative is a brand new, government-backed loan fund for those who want to start up their own business.
When you apply for a Start-Up Loan you won’t just get financial help – you’ll also get support and advice as you embark on your enterprise journey, helping you turn your great idea into a successful and sustainable business. The Start-Up Loans scheme was introduced by the government in October 2012 to help entrepreneurs get their business ideas off the ground.
The Start-Up Loans Programme aims to provide mentoring and financial support to entrepreneurs that would not normally be available via traditional banking relationships.
It sets out to:
- Foster a culture of entrepreneurship in England
- Support applicants to create and develop their business
- Give a boost to UK economic growth through supporting the development of new businesses
- Build-in success for new ventures through the provision of expert advice and support
The mechanisms for delivering these goals rest in pre-application support to entrepreneurs, affordable loans on clear terms, on-going mentoring and support, and access to useful product and service offers that would not normally be available to new businesses.
Government’s ambition for the programme extends to 31st March 2015, and potentially beyond that. The basic premise is that, if there is appetite for this type of product, provision should be expanded to meet it. Meeting that ambition is dependent on proving its value and the IOEE will be working with you to make sure that this is a worthwhile offer and identifying ways of making it better.
If you are interested in finding our more about how you can access the national Get Started programme please click here