Grants & Loans

For start-up businesses in the UK, navigating the landscape of government grants, loans, and funding options is crucial. Government business grants provide financial support without the need for repayment, making them highly sought after by start-ups. These grants are typically focused on specific industries, regions, or types of business activities, such as innovation, research, or environmental initiatives. Alongside grants, the UK government offers start-up loans, which are low-interest loans designed to help new businesses get off the ground. These loans often come with the added benefit of business mentoring and support. For entrepreneurs and start-ups, accessing these loans can be a practical way to secure necessary funding while also gaining valuable advice and guidance. Start-up grants and loans in the UK are essential tools, providing both financial assistance and resources to help new businesses succeed in the competitive market.

Start Up Loans

Start Up Loans is a government-backed personal loan available to individuals looking to start or grow a business in the UK.

  • Borrow £500 – £25,000
  • 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

 

Samuel Wilson's Loan Trust

Samuel Wilson’s Loan Trust (SWLT) is a charitable organisation which offers business loans to young people (aged 18-39) for establishing and developing new businesses, and who are "in need by reason of ill-health, disability, financial hardship or other disadvantage."

  • Be between the age of 18 and 39 inclusive
  • Have recently set up (no longer than 36 months) or be about to set up a business
  • Trade in Greater London, Buckinghamshire, Essex, Hertfordshire, Kent, Surrey, East Sussex or West Sussex.
  • Up to £50,000 for limited companies or between £25,000-£50,000 for sole traders
  • 2% interest rate (subject to change)
  • Repayment within five years (60 months)

X-Forces Loan

X-Forces Enterprise provides Start-Up Loans to members of the Armed Forces Communities and their family members, from £500 and £25000 per business partner.

  • Borrow £500 – £25,000
  • 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

Prince’s Trust Loan

The Prince’s trust works with young people to start their own business. They work with 18- to 30-year-olds living in the UK to turn big ideas into reality.

  • Borrow £500 – £25,000
  • 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

Youth Music Next Gen Fund

The Youth Music NextGen Fund offers young creatives grants of up to £2,500 to make their ideas happen. It's open to 18–25-year-olds (and up to 30-year-olds who identify as d/Deaf or Disabled) who live in England, Scotland, Wales or Northern Ireland.

  • A creative music project
  • A music-based business
  • A platform that supports underrepresented voices and perspectives
  • An event or series of events showcasing other emerging artists.

Innovate UK

Innovate UK is the UK’s national innovation agency. They support business-led innovation in all sectors, technologies and UK regions. They help businesses grow through the development and commercialisation of new products, processes, and services, supported by an outstanding innovation ecosystem that is agile, inclusive, and easy to navigate.

  • funding new and ambitious innovation-led projects
  • enabling collaboration across the system to catalyse and enable innovation, its adoption and diffusion
  • funding a wide range of training, mentoring, and skills development for innovators.
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