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 founders looking to start or grow their business:

  • Borrow from £500 to £25,000 per co-founder
  • Borrow over 1-5 years at a fixed interest rate of 6% p.a.
  • No set up fee or early repayment penalties.
  • No minimum trading requirement.

Every funded founder 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.
Change Please Coffee Got a Start up Loan from Virgin Start Up

Getting a Start Up Loan from Virgin StartUp was the best decision I have ever made.

Cemal Ezel, Founder of Change Please

Why get a Start Up Loan from Virgin StartUp?

If you've been trading for under 2 years, you can benefit from a Start Up Loan from Virgin StartUp.

 

Benefits

  • Access to tools and resources to help you start and grow your business
  • 6 months' mentoring
  • Funding designed specifically for early-stage founders
  • Founders 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

 

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*COVID-19 update: Our Start Up Loans support will continue to operate as usual, with both business advice and post-funding support being provided on a remote basis using a combination of phone calls, video calls, emails and webinars.*

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

To apply for a Start Up Loan, you must:

  • be aged 18 or over
  • live in the United Kingdom
  • have a business which is not yet trading or is less than 2 years old

 

To get started, please complete the short registration form below.

Important

When you click the button below you’ll be directed away from Virgin StartUp to the Start Up Loans website to continue your application.

Once you’ve submitted your application a member of the Virgin StartUp team will be in touch to take you through the next steps.

Frequently Asked Questions

Am I eligible?

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

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 five years, at a fixed annual interest rate of 6%, with no early repayment penalties. Average loan size: £10,000.

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 working days of completing the application form (hosted on the Start Up Loans website) and ask you a few questions - this will help us decide the best next steps for you. If you're able to upload a draft 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 founders, for founders: we offer you our wisdom, knowledge and expertise to better the prospects of your start-up. With every loan comes 12 months of post-funding support 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;
  • Start Up Loans range from £500 - £25,000 per co-founder, with a fixed interest rate of 6%. Repayment terms can be up to five years and there are no early repayment penalties; average loan size £10,000;
  • Every loan comes with exclusive offers and opportunities throughout the Virgin Group and beyond.
  • Every funded founder 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 and like-minded founders. 
    - An experienced mentor who'll work with you for six months.

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.

What impact will Covid-19 have on my Start Up Loan application?

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The Start Up Loans programme has not been affected or interrupted by the Covid-19 pandemic. You can still apply for a Start Up Loan and we will continue to provide business advice and a full programme of post-funding support to our Funded Club.

Both business advice and post-funding support are provided on a remote basis using a combination of phone calls, video calls, emails and webinars.

Full guidance on how the Covid-19 outbreak is effecting Start Up Loans can be found here: https://www.virginstartup.org/news/update-managing-director