Who can apply
You must be 18 or over, a UK resident with the right to work in the UK, and your business must be based in the UK. The business must be new or have traded for up to 60 months; the limit was 36 months until 6 April 2026. You declare that you cannot get finance from other sources, and you must pass a credit check and show that you can afford the repayments.
Partners can each apply for up to £25,000, with a ceiling of £100,000 for one business. Each application is assessed separately, each partner is personally liable for their own loan, and the applicants must hold at least 50% of the business between them. You can use a Start Up Loan to buy an existing business, even one that has traded for longer than 60 months, provided you have not owned it for more than 60 months yourself. A franchise is eligible on the same terms.
Some business types and purposes are excluded. Property investment, gambling, regulated financial services and charities are among the excluded types, and the loan cannot repay existing debt or pay for training or qualifications. If you are declined, you must wait at least six months before applying again.