The Government has announced that the Start-Up Loans scheme for new young entrepreneurs will be extended. In addition to a £30 million increase in funding over the next three years, the age limit for applying will be extended to 30. Previously, Start-Up Loans were available to entrepreneurs aged 18-24. The total amount of funding available through the scheme is now over £110 million. To date, over 460 new businesses have benefited from the scheme, with £1.5 million worth of loans. Start-Up Loans are delivered through charities and private partners. The average loan is about £2,500, and comes with a package of business support including mentoring.
For more information on applying for a Start-Up Loan, please click on the link below.