Startup Loan Fund
Enterprise NI is part of a UK-wide network of business support partners and working with the British Business Bank, they deliver Start Up Loans across Northern Ireland. A Start Up Loan is a personal loan for business purposes for a term of 1 to 5 years at a fixed rate of 6% per annum. Applicants must be aged 18 or over at the time of the application. A credit check will be completed.
All owners or partners in a business can individually apply for up to £25,000 each, with a maximum of £100,000 available per business.
The average loan amount is £9,295.
Fixed interest rate of 6% p.a.
1 – 5 year loan repayment term
Free application support
Free post-loan support and mentoring
Free templates & guides
No application or set-up fees
To be eligible to apply for a Start Up Loan, you must meet the following criteria:
Be a current UK resident.
Be 18 years of age or older.
Be starting a new business or have been trading for up to 36 months.
Have the right to work in the UK with their business based in the UK.
Be unable to secure finance from other sources (self-declaration is ok)
The type of business and reason for wanting the loan is eligible under the terms of the scheme.
Click here for more information https://www2.startuploans.co.uk/enterprise-northern-ireland-ltd