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.
The scheme offers 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