NEW BUSINESS START UP LOANS

  • Loans available from the UK Government backed Start Up Loans Company
  • Available for businesses 0-24 months old
  • Borrow up to £25,000 at 6% fixed per annum with no fees
  • Pay it back over 1 to 5 years
  • Assistance with your business plan available
  • Ongoing mentoring and support up to 12 months after a loan is drawn
  • Quick, easy and hassle free application process

Why choose us?

We’re a not-for-profit organisation which reinvests money into the local economy. We are interested in helping communities and local businesses to succeed, rather than making money for distant shareholders.

Apply for funds with us and we’ll guide you through the application process for your Start Up Loan. Once it’s been awarded we’ll be on hand to provide you with free, expert business advice if you need it.

HOW TO APPLY

Ready to go? Click on the button below and you can apply for your loan online.

Do you have any questions? Call 01686 626234 or enter your details below and we’ll call you back during office hours.



Low interest Start Up Loans for new businesses

Start Up Loans through Robert Owen Community Banking are aimed at new businesses in Wales and the borders who have a viable business idea and have been trading for less than 24 months but are struggling to access suitable finance. We are interested in the success of your business so if you come to us with a business idea, we’ll explore it with you and assist you with putting together a business plan.

We want your business to succeed which is why we offer free, one-to-one support from a business mentor – someone who has experienced the challenges, taken the risks and reaped the rewards.

  • 1. Get in Touch

    Fill out the form at the top of this page.

  • 2. Submit a Loan Request

    Your application will be reviewed for approval.

  • 3. Application Approved

    The money will be paid into your bank account.

  • 4. Make it a Success!

    Repay the loan over flexible payment terms.

Our success stories

  • After we won the contract with O2 we were worried about finance, but the Start Up Loan and ongoing support from you has been invaluable.

    Cenfyn ETO Music Practise
  • I couldn’t have done this without you, this loan has helped me move production from my kitchen table to a dedicated facility!

    Lori Coco Pzazz
  • I think I love you, thank you so much Jackie. We'll definitely stay in touch as I may need some help in the future.

    Hannah Black Barn Flooring

Start Up Loan calculator

Use the calculator below to see the total and monthly repayable on different amounts over one to five years.

I want to borrow:

£3,100

For a duration of:

2 years

Monthly Payment £137.39

Total Repayment £3,297.45

Frequently Asked Questions

HOW MUCH DOES A LOAN FROM THE START UP LOANS COMPANY COST?

The interest rate is 6% fixed per annum. There are no other charges or fees, no hidden costs and no security is required.

WHO CAN HAVE A START UP LOAN?

To apply for a loan through the Start Up Loans Company scheme, you must:

  1. Be aged 18 years and over at the time of application
  2. Reside in the UK and have a fixed abode or ‘care of’ address
  3. Be able to work in the UK on a full time basis with no restrictions on the type of work you can do
  4. Have a business which is either just starting-up or has been trading for less than 24 months and will be based in the UK
  5. Not be currently declared bankrupt, have an outstanding Individual Voluntary Agreement (IVA), Trust Deed, or a Debt Relief Order (DRO)

As with all other personal finance providers, a recent credit check will be required on each applicant prior to the assessment of a loan application. An adverse credit history will not necessarily mean that your application for a Start Up Loan is declined – you can talk to us first before applying if you are concerned about your credit history.

This is a personal loan for business purposes. It is only available to individuals with a personal bank account.

You can only have one business funded by the Start Up Loans scheme.

WHAT CAN THE START UP LOAN PAY FOR?

Start Up Loans can be used for most things you need to start and run your new business. This could include purchasing equipment, getting a website developed, marketing and promotional materials or just day to day running costs while the business builds a client base.

Start Up Loans cannot be used to repay existing debts, pay for things unrelated to your business or pay for training or qualifications which you would already need to run your business.

WHAT HELP WILL I GET?

We will help you during the application process to make sure your business plan is robust and your forecasts are realistic and achievable. We will also discuss any training or mentoring needs you might have.

We can help you with:

  • a dedicated mentor to help on specific issues of your business
  • a qualified and experienced accountant
  • a dedicated support helpline
  • honest and confidential feedback whenever you need
  • after you have a had a Start Up Loan, mentoring and support can continue for up to 12 months

HOW MUCH CAN I BORROW?

Loans of £500 to £25,000 are available, but the amount you can borrow will be determined by your business plan and how much you can reasonably afford.

The maximum Start Up Loans for any one business cannot be more than £100,000.

HOW LONG CAN I TAKE TO REPAY THE LOAN?

Start Up Loans must be paid back within five years but there are no fees for early repayments.

IS THERE ANYTHING YOU WON’T FUND?

Start Up Loans are not available for businesses based outside the UK or those engaged in illegal activities. Businesses involving gambling, pornography, the arms industry, property investment or development, lending activities, foreign exchange, Bitcoin or similar alternative currency trading are also ineligible.

Start Up Loans can be used for franchise businesses, but agency arrangements and certain other types of franchise are not eligible and will need to be checked before we can handle your application.

The easiest way to check whether your business is eligible under the Start Up Loans Company scheme is to ask us. We are happy to help.

Start Up Loans for new businesses

Borrow up to £25,000

Unsecured loan

Fixed 6.0% per annum

Government backed start up loan fund

Up to five years to repay your loan

Free mentoring and support