Start or grow your own business with the help of a government-backed Start Up Loan and free business support. This is a great alternative for individuals looking for business loans to fund their start up.

Image of the Basildon for Business Brand LogoImage of the Start-up Loans LogoLocated as we are, in an area brimming with entrepreneurial spirit, it is not surprising that starting a business is viewed by many as a viable option - and one that can be challenging and rewarding.

Basildon Council's Economic Development team works continuously alongside local and national partners to identify appropriate support for your business ideas.

One such scheme is the 'Start-Up Loans' programme, targeted at new enterprises or those businesses that have been trading for less than 36 months.

What is it?

The Start-Up Loans programme is a government funded scheme to provide advice, loans and mentoring to start-up businesses.

  • Do you have a great business idea, or have you been trading for less than 36 months?
  • Are you looking for finance and support to help develop your business?

If you answered yes to either of the above questions, then a government-backed Start Up Loan could help.

What you have to do to get started

The start-up loans website has published the following 5 step guide for applicants.

  • STEP 1 - Register Online

The first step is to check that you are eligible. Complete the short online registration form and provide some basic information.

  • STEP 2 - Make a Business Plan

Once you have registered, a member of the Start Up Loans Company, or a Delivery Partner representative, will contact you to discuss the next steps. You will work with a Business Advisor who will provide guidance on your business plan and cash flow.

  • STEP 3 - Complete Your Application

Once your business plan and cash flow forecast are completed, your Delivery Partner will then put forward your application to be considered for funding. You will never be charged to make a Start Up Loan application.

  • STEP 4 - Get Going

If your application for a Start Up Loan is successful, you will be able to access exclusive business offers including discounted website design, free accounting software and free legal advice. You will then start to repay your loan. You are required to pay back the loan within 1-5 years, and there is no early repayment fee. The exact term will be agreed with your Delivery Partner as part of your application process.

  • STEP 5 - Meet Your Mentor

After receiving funding from the Start Up Loans Company you will be offered a mentor who is on hand to help your business succeed. You will likely have a lot of questions that need answering and decisions to make, and a mentor can provide guidance and support to help you grow and develop your business.

Check your Start Up Loan eligibility and register your interest

If you would like to know more about your Start-up Loan eligibility and how to contact us to express your interest in joining the Start-Up Loans programme, see:

Further information and enquiries

Interested? Want us to help? Simply contact the Economic Development team and we will be happy to assist and help you to broker a relationship with an appropriate start-up loan delivery partner. For full details of the programme visit the Start-up Loans website.