Creative England: Start Up Loans
Whether you’re a young creative entrepreneur, working as a freelancer, or have started a business in the last two years, Start Up Loans can help you develop your creative pursuit.
Creative England has partnered with the British Business Bank’s Start Up Loans scheme to offer low-interest personal loans and free mentoring to help you start or grow a new business. It’s a great alternative if you’re looking for a business loan to fund a start-up.
Here’s the key information you should know.
- Each co-founder or partner in the business can borrow between £500 and £25,000
- There’s a fixed interest rate of 6%
- You can repay over a period of one to five years
- You’ll receive 12 months of free mentoring once you’ve been issued the funds
- There are no early repayment fees or any other fees for setting up the loan