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Quick guide to Start Up Loans

The Forum is a supporter of Start Up Loans, which offers new business owners loans of up to £10,000 plus mentoring support, to make their business idea a reality. 

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The Start Up Loans Company was set up as an access to finance scheme, to offer would-be entrepreneurs of any age both the loans and mentoring support to help them set up their own business. The Forum has been a supporter of the scheme from the start, believing that it is a great way to get people into business who might not otherwise have the capital and mentoring support needed to get started.

The scheme is delivered in England, Northern Ireland, Scotland and Wales, through a network of over 50 partners administering the loans.

The rationale behind Start Up Loans come from the lack of start up finance available for new businesses who need the capital injection to build their business – this is where we bridge the gap.

The overarching goal of Start Up Loans is both an economic and a social one – to create jobs and growth in the SME sector, and to give potential start-ups capital needed to start their own business.

The scheme has already lent over £73 million, having supported more than 14,000 entrepreneurs and their businesses, with an average loan size of £6,000.

As well as funding, the delivery partner administering your loan can also help to match you with a mentor who can help set you on the right path. With your mentor, you are guaranteed to receive at least two hours of mentoring each month for the first three months.

If you think a Start Up Loan might be able to help you get your business idea off the ground, find out more here

Successful applicants can get access to a number of special offers to help them get their business off to the best start, including 50% discount on their first year of Forum membership.

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