“For many years I have campaigned for more focus on small business and start ups as the way to get growth in the economy and to create more jobs. This needs to be backed by more bank lending and start up loans for entrepreneurs…” Sir Richard Branson
About Virgin StartUp
Virgin StartUp is a not-for-profit organisation that helps entrepreneurs with the funding, resources and advice they need to make their business idea a reality.
We provide government support for small businesses through funding, give expert business plan help and match you with your very own mentor. Virgin StartUp is a delivery partner for the government’s Start Up Loans scheme.
What is a Start Up Loan?
Start Up Loans are aimed at entrepreneurs looking for funding to launch or grow a business. Since launching in 2012, the Start Up Loans scheme has backed over 10,000 businesses and given out close to £75m to entrepreneurs.
What you get with a Virgin StartUp Loan
On top of the funding, you also get a huge amount of support to grow your business for FREE. Here’s what you get:
- Virgin mentoring – We match you with a mentor that’s specifically chosen to grow your business. Their skills will be in areas that you tell us you need help in. You will get to meet them face to face for 2 hours a month for the first 3 months and an hour a month after that, for an entire year. See how our mentors helped Lily Rice, founder of Lexie Sport.
- Promotion across Virgin – We have opportunities to promote Virgin StartUp companies across the Virgin Brand. This is FREE PR that can give a new business the coverage it needs to attract customers, investors and fans. See here how we covered Tom Travers’ chocolate company, Yucoco.
- Exclusive events – Taking out a Virgin StartUp loan make you part of the Virgin family. That means we can invite you to exclusive events and networking opportunities with some of the greatest business minds in the country.
- Business advisor – As soon as you apply for a Virgin Start Up loan, we’ll provide you with your very own business advisor who will take you through the process of getting investment. They’ll help you create a winning business plan that will become your guide for success and set you on a path for growth.
Why take out a Start Up Loan?
- It gives finance to entrepreneurs
For entrepreneurs looking to raise finance the economic climate right now isn’t too favourable. Young, innovative businesses are struggling to find funding and we hate that. Tons of great new businesses that could be creating jobs for the unemployed and contributing towards the UK economy have been stifled, we want to stop that. Start Up Loans is a viable alternative where people with good business ideas can get the funding they need to launch and grow a sustainable business and leaves you in control of your own destiny.
- It’s government-backed and low-interest
A Start Up Loan offers an extremely low interest rate of 6.17% APR Representative (Fixed rate) and the loan will be paid back within three to five years.
- We realise entrepreneurs make mistakes
The trick is to learn from them. Even some of the world’s best entrepreneurs didn’t succeed until their third or fourth idea. With this in mind, although we carry out a credit check for all loan applicants, it will not wholly determine the outcome of your application.