Creative England’s Start-Up Loans were established in partnership with the British Business Bank. These loans can unlock new and important investment opportunities for all subsectors of the UK’s creative industries.
The new government-backed Start Up Loans for the creative industries will offer borrowing of up to £25,000 at a fixed interest rate of 6% per annum, repayable over 1-5 years. As well as providing access to early financing, the loans will also include 12 months of post-investment mentoring support for recipients.
Applicants are welcome from any subsector of the UK’s creative industry; from young practitioners or experienced freelancers, to creative Start Ups less than two years old.
Start Up Loans Eligibility
You’re eligible for a Start Up Loan if:
- 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 24 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 credit checks and you can afford to repay the loan
Find out more about the new scheme here.