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Start Up Loans UK

What is a start up loan in the UK and is it the right loan solution for your business?

29 reviews

Our reviews are based on realtime feedback 

Our reviews are based on realtime feedback 

Start up loans in the UK are used to help start or grow a business that has been trading less than two years. It's available to companies in the UK that need help to start or grow, providing them with financial but also practical support in the form of 12 months free mentoring.

How does a Start Up Loan work in the UK?

A Start Up Loan works by allowing each owner or partner in the business, aged 18 or over to apply individually for a loan up to £25,000 and to a maximum total of £100,000 per business.

The interest rate is currently fixed at 6% and repayments are between 1 to 5 years.


What are the pros and cons of start up loans in the UK

Pros of start up loans
    • Access to cash to help build the business without using personal money
    • The unsecured nature of the loan allows retention of ownership and control of the business
    • Repaying the loan provides an opportunity to build up a history of good credit, useful for possible future finance
    • The loan offers reasonable interest rates and flexible repayment terms with the security of backing by the government
    • All profits from growth belong to the business owners
    • Access to mentors and free courses are designed to help guide you towards a running a successful business
    • No application fee or early repayment fee

 

Cons of start up loans
    • It can be difficult to qualify for a start up loan as it will depend on the specific requirements of individual lenders
    • You may be inexperienced in how to successfully utilise the loan – though a mentor may help
    • The repayments could put pressure on your monthly cash flow and potentially risk your personal credit rating if you fail to meet monthly payments

  • Have you thought about Invoice Finance as a loan solution for your business?

    Invoice finance allows you to release cash quickly from your unpaid invoices.

    As your lender, we can release up to 90% of your invoices within 24 hours. On payment of the invoice from your customers, we will then release the final amount minus any fees and charges. There are different types of invoice financing options available to businesses depending on the situation and the level of control they require in collecting unpaid invoices.

    We are an invoice financing company who offer a solution whereby payments are collected on your behalf managed by our team of expert credit controllers so you can focus on running your business. Our Confidential Invoice Discounting solution is offered to businesses who want to maintain their own credit control processes, therefore this remains strictly confidential so your customers are unaware of our involvement.

    The benefits of invoice finance companies such as Hitachi Capital
      • Boost your cashflow without having to wait up to 120 days for your customers to pay you
      • An invoice finance company with a revolutionary digital onboarding process, giving you quicker access to funds and the ability to take on new business remotely during this lockdown period
      • Release up to 90% of the invoice straight away, and the final 10% when the invoice is settled
      • No need to chase your invoices, we can do it for you
      • 6 month trial period followed by a rolling contract

Get a quote online or call 0808 250 0859

We will use your details to contact you in relation to this enquiry only.


We have revolutionised invoice finance with our digital onboarding process


We are an award winning invoice finance company

Best Invoice Finance Provider 2020

Best Factoring/Discounting Provider 2019

Best Invoice Finance Service 2018


4.9/5

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Please note that costs are an estimate only and are based on the entered values. Your final quote may change once a Business Development Manager has assessed your business in more detail.

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Why choose Hitachi Capital Invoice Finance as an alternative to a Business Loan

      • A 6 month trial period so you can be sure the product is right for you
      • Followed by a 6 month rolling contract – we don’t tie our clients in for long periods
      • A one fee solution with no hidden fees
      • Award-winning client service by our team of expert Client Managers
      • Our Relationship Management team are in the field to visit you in person
      • We are part of Hitachi Capital (UK) PLC, a company that is going from strength to strength – we’re here for the long term.

Smarter, Faster and Simpler Cashflow Finance with Hitachi Capital

Smarter, Faster and Simpler Cashflow Finance with Hitachi Capital

Smarter, Faster and Simpler Cashflow Finance with Hitachi Capital

Find out how we are revolutionising the way UK SME's access cashflow finance.


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Contact our friendly UK advisors on freephone

0808 250 0859

8:45 - 17:15 - Monday to Thursday &
8:45 - 16:45 - Friday