The Start-Up Loans Company, part of the British Business Bank, was formed in June 2012. The Start Up Loans (SUL) scheme provides personal loans for business purposes of up to £25,000 at a 6% fixed interest rate per annum and offers successful applicants free one-on-one mentoring and other types of business support.
The SUL scheme wants to make owning a business possible for people who struggle to raise finance through traditional providers such as high-street banks. It also works to ensure viable start-ups and early-stage businesses have access to the finance and support they need in order to thrive.
The British Business Bank is a government-owned but independently managed organisation whose aim is to make finance markets work better for small businesses in the UK.
To learn more about Start Up Loans and how to apply, visit www.startuploans.co.uk