
You can borrow between £500 and £25,000 per applicant. This range provides flexibility, allowing you to obtain just the right amount of funding you need to get your business off the ground.
Eligibility Criteria
Before you apply for a loan, it’s essential to ensure you meet the basic eligibility criteria:
- Age: Applicants must be at least 18 years old.
- Credit Rating: A good credit score is typically required.
- Business Plan: A well-detailed business plan can significantly improve your chances of approval.
- Income Proof: Proof of income or financial stability may be required.
Application Process
The application process is straightforward and user-friendly:
- Eligibility Check: Start with a free eligibility check to determine if you qualify for the loan.
- Application Support: Benefit from free application support to help you submit a comprehensive and accurate application.
- Approval & Disbursement: Once approved, the funds will be disbursed to your account promptly.
Interest Rates
The loan comes with a 6.0% fixed interest rate, providing you with the certainty of knowing your monthly repayments won’t change over time.
Loan Calculator
Using a loan calculator can help you understand your monthly payments and total repayment amount. Here’s an example to illustrate:
Loan Amount Repayment PeriodMonthly PaymentTotal Repayment: £28,999.20
This tool is crucial for budgeting and planning your finances effectively.