Start Up Loans

Launch or grow your business with a Start Up Loan.

Borrow from £500 to £25,000.

What is a Start Up Loan?

A Start Up Loan is a personal loan for entrepreneurs looking to start or scale their business:

  • Borrow between £500 to £25,000 per co-founder - average loan size £10,000.
  • Borrow over 1-5 years at a fixed rate of 6% p.a.
  • No set up fee or early repayment penalties.

Every funded entrepreneur receives twelve months of exclusive support as part of The Funded Club. Including;

  • Expert guidance to help you start and scale your business.
  • A dedicated business advice helpline.
  • Regular opportunities to meet with specialist mentors.
  • An experienced mentor who'll work with your business for six months.

Mentoring from Virgin StartUp

We used the funding to help build our website from which we now sell to thousands of customers.

Ben Tindall, co-founder Me, My Suit and Tie

Why get a Start Up Loan from Virgin StartUp?

Sir Richard Branson’s spirit of entrepreneurship, innovation and market disruption has seen Virgin start and grow countless businesses over the last 45 years.

Now, at Virgin StartUp, we’re sharing our experiences to help the next generation of entrepreneurs start and grow their businesses.

Benefits

  • Access to tools and resources to help you start and grow your business
  • Funding designed specifically for early-stage entrepreneurs.
  • Entrepreneurs receive 12 months of exclusive support as part of The Funded Club
  • Exclusive offers and opportunities from across the Virgin Group, including:
    • Discounted access to our growing number of Events and Masterclasses
    • A growing community of entrepreneurs
    • Access to exclusive offers from partners and supporters
    • Opportunities to sell and new routes to market
    • Promotional, marketing and PR opportunities at Virgin StartUp, including being featured in content on our website and presenting at our events.

I don't know if we'd be here without the mentor and support from Virgin StartUp

Gini and Eccie Newton, founders of Karma Kans

As Featured In

The Guardian
Forbes
BBC
Wired

Frequently Asked Questions

Am I eligible?

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To apply for a Virgin StartUp Loan, you must be at least 18 years old, be an EU passport holder (or have a valid UK visa) and your business must be two years old or less.

How much can I borrow and what are the terms?

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You can borrow anything from £500 to £25,000, repayable over up to five years, at a fixed annual interest rate of 6%, with no early repayment penalties.

How long will it take to receive my loan?

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There is no specific timeframe from registering to being approved for a loan. Every entrepreneur and business idea is different and at varying degrees of progression when they apply to us. Some take 3 weeks to process, some take almost a year! It is really important that we fund businesses at the right stage when they are ready for funding and we’ll work with you to get you to that stage, however your engagement with the process and how proactive you are throughout the process, will play a critical part in the length of time it takes.

What happens after I register?

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We'll call you within 2 weeks of completing your online registration form and ask you a few questions, which will help us decide the best next steps for you. Depending on what stage you’re at and where you are in the country, we’ll either encourage you to fill out our free business plan template, or book you onto one of our free all-day workshops, where you’ll learn more about starting a business. If you work hard on your business plan, it's likely that you’ll then be matched with a business advisor, who will help you put together your loan application.

I'm an International student living in the UK. Can I apply?

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Yes, international students living and studying in the UK can apply, but your visa must permit you to work in the UK, and your business plan must clearly show that you’ll be able to repay your loan during the length of your stay.

Can I use the loan to buy a franchise?

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Yes - subject to our normal lending conditions. Check out whichfranchise.com for more information on franchising.

What is a mentor?

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A mentor is an individual with business experience who will provide support and guidance to help make your business a success. Take a look at our mentoring pages to find out more.

What additional support do you provide?

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Virgin StartUp isn’t just about loans - we’re built by entrepreneurs, for entrepreneurs; we offer you our wisdom, knowledge and expertise to better the prospects of your start-up. With every loan comes mentoring and access to exclusive offers and opportunities from the Virgin Group. Here's a breakdown of what you can expect to receive:

  • Business Advice - every eligible loan applicant is partnered with a business adviser who will help you complete a full business plan and set of financial projections;
  • Virgin Start Up Loans range from £500 - £25,000, with a fixed interest rate of 6%. Repayment terms can be up to five years and there are no early repayment penalties;
  • All successful loan applicants will be matched with a hand-picked mentor. Our volunteer mentors are committed to at least 15 hours of free one-on-one support for the first year of your new business;
  • Every loan comes with exclusive offers and opportunities throughout the Virgin Group and beyond.

In addition, the Start Up Loans Company have secured some exclusive business offers. These will provide you with discounts on a number of business products and services that you may find useful when launching your start-up. To see how these offers could benefit your business and to redeem, visit the Start Up Loans website.

Do I lose my jobseekers allowance if I take a Start Up Loan?

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Yes, you will likely lose your job seekers allowance if you receive a Start Up Loan. For more information, click here.