If you’re considering self-employment or starting a business the likelihood is that you will need funding at some point. If your business has yet to launch, or you’ve been trading for less than two years, then we may be able to provide support via the British Business Bank Start Up Loans scheme.
X-Emergency Services (X-ES) works with X-Forces Enterprise (X-FE) to deliver start-up business advice and access to business finance through the Start Up Loans scheme, administered by the British Business Bank. Please refer to our terms and conditions of business for more information. More than 200 people from the emergency services community have already used this service to support their own business ambition. Through our various relationships we can offer unsecured, personal loans at a fixed interest rate with pre-loan business planning support and post-loan mentoring and knowledge exchange. All aimed to support you to maximise the probability of business success.
What are the benefits of a Start Up Loan?
- Borrow from £500-£25000 (average loan amount of £11,000)
- Fixed interest rate of 6% per annum
- Repay the loan over a term of 1 – 5 years
- 12 months’ free mentoring once you receive a loan
- No fees for arranging the loan or repaying it back early
- Access to free events and workshops
- Dedicated Business Advisor
Start Up Loans are unsecured personal loans for business purposes and therefore you don’t need a trading history. However, due to responsible lending there will be a credit check conducted to process your application. You will also need to confirm that you are eligible, based on the following criteria:
- You’re 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 36 months
- You’re unable to secure finance from other sources (self-declaration is ok)
- Your business is based in the UK
- You have the right to work in the UK
- Your type of business and reason for wanting the loan is eligible under the terms of the scheme
- You pass the credit checks and you can afford to repay the loan
- If you are applying for a Second Loan then your business has to have been trading for less than five years
HOW MUCH CAN I BORROW
Am I eligible for a startup loan?
I WANT TO BORROW:
FOR A DURATION OF:
BECOME A MEMBER
Membership is FREE. Sign-up now to receive access to exclusive member only events, training, support and much more.