Start Up Loans

Do you need funding help to bring your business idea to life? We have Start Up Loans available for new and early-stage businesses in the South West.

What are Start Up Loans?

A Start Up Loan is a personal loan for business purposes for a term of 1 to 5 years at a fixed rate of 6% per annum. Applicants must be aged 18 or over at the time of the application. A credit check will be completed.

SWIG Finance is part of a network of official Start Up Loans Business Support Partners across the UK who administer the scheme.
To learn more about Start Up Loans please visit their website,


Start Up loans are available to individuals that have a viable business idea but no access to finance. This includes businesses that are yet to launch, as well as those that have been trading for up to 36 months.

Is my business eligible for a Start Up Loan?

Start Up Loans Characteristics

  • For businesses trading for less than three years.
    Sole Traders, Limited Companies and partnerships are eligible.
    Loan sizes between £500 – £25,000 per applicant.
     Up to 4 applicants per business, with a maximum combined loan of £100,000 (£25k per person) permissible.
     You must be aged 18 years or over to apply
     Applicants must own at least 50% of the business concerned (joint applicants should have a combined ownership of at least 50%).
     You must have the legal right to remain in England for the duration of your loan term and the right to be self-employed.
    Existing customers can apply for further finance for up to 5 years. Information Required

    Documents Required

    – Personal Survival Budget
    – Cashflow Forecast
    – Business Plan

    You can download templates for these documents via the Start Up Loans website

    Amount & Term

    £500 – £25,000 repayable up to 5 years

    Interest Charge

    Charged at 6% fixed per annum


    There are no fees for accessing this service.

    Representative Example

    For a Start Up Loan of £10,000 repayable over 5 years. 60 monthly payments of £193.33. Rate of interest 6% per annum fixed. Representative APR 6.18%. The total amount of credit is £10,000. Total interest payable £1,599.80. The total cost of credit £1,599.80. The total amount payable is £11,599.80.

    Do you need to borrow more than £25k?

    We have Business Loans from £25k up to £250k available

    Apply for a Start Up Loan now

    Our Application Process

    We assess each business on its own merit. To apply, click on the Apply Now button and you will be directed to the Start Up Loans enquiry portal.

     Download our Guide

    Start Up Loan application guide

    Tips & How-To Guides

    Here you will find practical tips and how-to guides.

    Got a question?

    Give us a call today and we will answer any question you may have.

    What you can expect from us

    • ✓ A personal 1-2-1 service from your dedicated business manager.
    • ✓ Relationship-based contact from your dedicated business manager.
    • ✓ A genuine interest in your business.
    • ✓ A desire to see your business succeed.
    • ✓ Support and guidance throughout the application process.

    Frequently Asked Questions

    You can see below the answers to our most frequently asked questions. If you have more questions, do not hesitate to contact us and we will be happy to help.

    How do Start Up Loans Work?

    Start Up Loans are personal loans for business purposes and are designed to help a business build its platforms and create a base for growth. These loans will normally be the only cash injection into the business and therefore are required to fund all the initial marketing, staffing, premises, and other business plans. 

    The loans are offered as part of the Government’s Start Up Loan Scheme which is provided by the British Business Bank which manages the scheme. 

    As these loans are for entrepreneurs who may not have even turned a profit yet, they are normally set as a repayment period of 1-5 years, with a fixed interest rate of 6% and no other charges. As this is a government-backed scheme, it aims to help grow businesses in the UK so here at SWIG Finance, we will help you decide how much capital you should borrow so that it grants your business enough time to be turning a profit.

    What are the disadvantages of Start Up Loans?

    • Monthly Repayments will increase Break-Even Point
    • Criteria Restricts some Companies
    • The Loan Must be Paid Back!

    What can Start Up Loans be used for?

    The loan can be used for a variety of business expenses such as employees, equipment/machinery, stock, business premises, and marketing. Your business plan and cash flow forecast must include where you intend to spend the loan and what it will pay for, and the plan must explain how the loan will help you start and/or grow your business.

    Can I get a Start Up Loan with bad credit?

    Yes, having bad credit will affect you’re getting a Start Up Loan but it doesn’t make it impossible. Bad credit may result in you being offered less than what you were asking for, so it may also require you to have a really strong business plan with lots of evidence to back up your ideas to increase the trust of the lender.

    Are Start Up Loans personal loans?

    Yes, Start Up Loans are personal loans to be used for business purposes.

    Are there any other fees?

    There are no fees for accessing this service.

    What are the Advantages of Start Up Loans?

    • Keep Control of your Business
    • Personal Finances are Protected
    • Build Business Credit
    • Requires No Security or Personal Guarantee
    • Low Interest
    • There are no fees for accessing this service
    • Requires a Strong Business Plan

    What are the interest rates and fees for Start Up Loans?

    For a Start Up Loan of £10,000 repayable over 5 years. 60 monthly payments of £193.33. Rate of interest 6% per annum fixed. Representative APR 6.18%. The total amount of credit is £10,000. Total interest payable £1,599.80. The total cost of credit £1,599.80. The total amount payable is £11,599.80.

    What can Start Up Loans not be used?

    For some activities, you will not be able to use the Start Up Loan to pay for. These are; repaying debts, education programs and other activities which don’t directly result in the sustainability of the business.

    Do Start Up Loans require a personal guarantee?

    Start Up Loans don’t require any assets to be used as security or collateral and we will not ask for a personal guarantee. These are government-backed loans, which means they are aimed at helping you grow your business with limited threats to your personal finances.

    “This funding has helped to fast-track my business launch by enabling me to professionally manufacture my products and prepare for market launch”

    Customer Testimonial, Start Up Business Owner

    Boys Who Sew

    Start Up Funding for Kids Play Space

    Feb 15, 2023 | Case Study, Start Up
    Hampshire-based entrepreneur, Marnie Waller, has received a £25,000 Start Up Loan, delivered by SWIG Finance, to contribute towards bringing her children’s play centre business to life.

    Read More

    Our decisions are made by people, not computers, which means that we lend by looking at the bigger picture.

    Our business managers provide support and guidance throughout the application process, and for the duration of the loan, to give our customers the best chance for success.

    Apply for a Start Up Loan now

    Application Form

    Please complete the forrm below and a member of our team will be in touch to discuss your application.