Start up loans for new businesses

The government’s Start up loans scheme has helped 25,000 new small business so far. They now wish to treble that number to 75,000 up to 2020. In the South East there have been over 2000 loans made worth more than £11 million. 14 of these have been in the Wokingham constituency.

If you are a UK citizen planning a new business or with a new business less than two years old and are over 18 you may be eligible for a loan. They can be up to £25,000, and up to 5 years before repayment, at an annual interest rate of 6%. You also qualify for advice and mentoring from someone with plenty of past business experience as part of the package.

Just google startuploans if you are interested.

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2 Comments

  1. Lifelogic
    Posted January 20, 2015 at 7:28 am | Permalink

    Anything that gets some money to good people starting new businesses is a good thing, even if they fail they learn things along the way. I started my self employment some 30 years ago with the help of a £40 per week allowance/grant for the first 12 months, it was a huge help at the time. I cannot remember what the scheme was called.

    As many people as possible should apply and have a go. Making money is not that hard just apply common sense and understand your customers. Dealing with the many obstacles the government put is your way can be a real pain though, employment laws, endless regulations, planning and the rest of the mugging and inconveniencing they so love.

    • Lifelogic
      Posted January 20, 2015 at 8:22 am | Permalink

      They should hugely reduce the tax payer money that encourages so many people never to work or even learn how to work and divert the money to those that do with schemes like this, training and incentives to get out and do something.

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    John Redwood won a free place at Kent College, Canterbury, and graduated from Magdalen College Oxford. He is a Distinguished fellow of All Souls, Oxford. A businessman by background, he has set up an investment management business, was both executive and non executive chairman of a quoted industrial PLC, and chaired a manufacturing company with factories in Birmingham, Chicago, India and China. He is the MP for Wokingham, first elected in 1987.

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