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Start Up Loans

My Invoice Finance in association with the Start Up Loans Company a UK Government backed scheme offering finance, support and mentoring to start up businesses and businesses in early stage growth.

The start up loan is a personal loan for business purposes.

• Up to £25,000
• 6% fixed interest rate p.a.
• 1 – 5 Year loan term
• No early repayment fees

Lending Criteria

• Must be over 18 years
• Must be a UK resident
• Must be starting a business or have started a business based in the UK
• Trading less than 2 years

Along with the loan, you can have access to support for building your business plan and cash flow statement through one of the many delivery partners. A full list of delivery partners is available on the website. Should your application be successful you can have access to up to 12 hours of mentoring.

Business Plans

A good business plan can help focus your mind and ideas and it’s an opportunity to have all your relevant business information and ideas in one place. If you are eligible to apply for a Start Up Loan, you will be asked to complete a business plan and cash flow forecast.

Before you start writing a business plan here are some points to consider:

• The products or service you want to sell, including costs to produce and selling price

• Who your customers are and how will you reach them.

• Who are your competition?

• What are the strengths and weaknesses of your business.

• How will you promote your business and raise awareness.

• What are your back up plan’s and contingencies.

Download your free business plan template

Below is a link to a free business plan template. If you have used a different template, that’s fine.

Cash Flow Forecast

A cash flow forecast helps you manage your business and costs by using available information to predict how much money you will have coming in and out of your business at  any given point.

Download your free Cash Flow Forecast template

Below is a link to a free cash flow forecast template for you to use. If you have used a different template, that’s fine. As part of your application you will work with a Business Advisor who will provide guidance on completing this document as well as your business plan.