Start Up Loans

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.

For more information call us today!