startup loan scheme

StartUp Loan Scheme for Young Entrepreneurs

Thanks to a new £82.5 million StartUp Loan scheme, aspiring entrepreneurs aged 18-24 years old will be able to get access to finance, support and training to start their own small business. StartUp loans of £2,500 will be available to any young person with a credible business plan, at peppercorn rates and with a repayment period of up to five years. The new Government scheme was launched alongside Lord Young’s independent report on enterprise (Make Business Your Business – Supporting the start-up and development of small businesses). Lord Young said: “Many young people already have the drive and ambition to create a business, yet don’t know how to put this into action. The new StartUp Loan will mean that thousands of young people can now get access to advice and fun... »