Business Start Up Fund

Start Up Loan Fund – A government initiative with private backing – James Caan Chairman

Private company formed – Start Up Loan Company

Operates through Delivery Partners – £2.2million to lend to start up business across the North West in 2014

Criteria for the Start Up Loan:

• New business idea or Business less than 12 months old
• 6% APR
• Min loan £1000 Max loan £25,000
• Personal loan against the person not the business – unsecured
• Max term 5 years
• Average loan size £7000 – any business purpose
• Any business as long as it’s legal!

Process:

• Initial assessment with Credit Assessor
• Business Plan required – we can help them this or review for purpose of loan if working with another organisation for business planning
• Panel meeting – discuss and approve loan
• Recipient meets with our lender who distribute the loan and collects payments back in
• Post –start mentoring will be arranged

Please help us raise awareness of the Loan fund available to help young start up businesses in the North West. Call 01204 598558 or email us through the website contact page.