Business Loans and Finance
Loans for Start-ups
By the British Business Bank
- Loans to help you start or grow your own business
- Borrow up to £25,000
- Fixed interest rate of 6% per annum (per year)
- Repay over a term of 1–5 years
- 12 months of free mentoring
- Government-backed
Eligibility: You must either be a start-up business, or trading for less than 24 months.
Loans for Established Businesses
By the British Business Bank
The British Business Bank is a government-owned business development bank dedicated to making finance markets work better for smaller businesses.
Whether you’re looking for finance to start a business, grow to the next level, or stay ahead of the competition, we’re delivering greater volume and choice of finance.
The Start up, Scale up and Stay ahead boxes below can point you in the right direction. If you want to know more about the British Business Bank itself, here’s some information about what they do
The Covid Recovery Loan Scheme
Launched on 6 April 2021, the Recovery Loan Scheme (RLS) provides financial support to businesses across the UK as they recover and grow following the coronavirus pandemic.
You can apply to the scheme if Covid-19 has affected your business. You can use the finance for any legitimate business purpose – including managing cashflow, investment and growth. However, you must be able to afford to take out additional debt finance for these purposes.
If your business has already borrowed from any of the other coronavirus loan schemes – namely:
- the Bounce Back Loan Scheme (BBLS)
- the Coronavirus Business Interruption Loan Scheme (CBILS)
- the Coronavirus Large Business Interruption Loan Scheme (CLBILS)
RLS is still open to you, although the amount you have borrowed under an existing scheme may in certain circumstances limit the amount you may borrow under RLS.
RLS will run until 31 December 2021, subject to review.