Start Up Loans from Richmond Asset Finance
Frequently Asked Questions about Start Up Loans
Whether you’re thinking about applying for a Start Up Loan or have already received your loan, you may have questions about the process. Richmond Asset Finance has answered some FAQ's
What is a Start Up Loan?
- A Start Up Loan is a government backed personal loan available to individuals looking to start or grow a business in the United Kingdom.
- The start up loan is unsecured, so there's no need to put the loan on any assets or guarantors to support an application.
- The maximum amount owners or partners can apply for a start up loan is £100,000 available per business.
Am I eligible for a Start Up Loan?
- You must be 18 years of age or older.
- You're a current UK resident.
- You're starting a new business or have been trading for up to 24 months.
- Your business is UK based.
- You have the right to work in the UK.
- You're unable to secure finance from other sources.
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