The Start Up Loans Scheme is a UK government-backed programme offering personal loans to individuals looking to start or grow a new business, alongside free mentoring and support.
How the loan works
Loans of up to £25,000 are available at a fixed interest rate, taken out personally by the business owner rather than the company, and typically repaid over one to five years. Applicants also get access to a business plan template and free mentoring to help the business get off the ground.
Tax rules depend on individual circumstances and can change. This glossary is general information rather than personalised tax advice.