Start Up Loans – New Business.

Start Up Loans

How could your Business benefit from Start Up Loans.

Start Up Loans – Firstly over the years the volume of Start Up business has increased from 440,000 in 2011 to over 650,000 in 2016. It is expected that this trend will continue with over 700,000 Businesses being started up in 2017. With this high level of Start Ups being seen in the UK a high proportion of these will require funding for either growth or stability.

As with most Start Ups there is no track record or no credit history, therefore borrowing from the mainstream banks is often difficult to obtain.

Secondly All Star Funding Solutions we can help Start Up businesses obtain a quick and simple loan of up to £25,000 per applicant (Director, Partner, and Business Owner) to a maximum of £100,000 per business. Furthermore the borrowing term is a minimum is 12 months and the maximum term is 60 months. The Start Up loans which we can source are supported by the Northern Powerhouse Investment Fund which is a Government backed fund for Start Ups.

Thirdly All Star Funding can help with the application process, we can assist by checking your eligibility which will enable your application to be a simple and smooth transaction.

Getting started

If you are looking for a Start Up loan we firstly need to assess your eligibility. In order for us to do this we would require the following items of information.

  • Business plan
  • Cash flow statement
  • Assets and Liability statement
  • Photo ID – A copy of a Driving Licence or Passport
  • Proof of address – Recent utility bill dated within the last 3 months.
  • Last three months personal bank statements
  • Curriculum Vitae

Once we have completed our assessment the next step would be to complete a simple application form which would be sent to the funder.  Once this has been completed the funder will then contact you further to discuss your application and to get the process finalised.

Criteria Amount
  • Up to £25,000 per applicant (director, business owner, partner) to a Maximum of £100,000 per business
  • Loans are provided on a personal basis for business purposes.
Term
  • Minimum – 12 months
  • Maximum – 60 months
  • 6% fixed (6.2% APR)
  • None
  • Businesses that have been trading less than 24 months.
  • Security
Interest Rate Fees Eligibility Pre-start businesses Loans are unsecured
  • Restrictions
  • No active CCJS
  • Maximum of 3 defaults (including satisfied defaults)
  • No applicants in a debt management place, debt relied orders or IVAs
  • No early repayment fees

To summarize Early Repayment Example £20,000 over 5 years would mean a monthly repayment of £386.67 (6.2% APR) 

Lastly if you would like a quote for a Start Up loan please click here.

https://www.allstarfunding.co.uk/quote/business-loans-quotation/

We operate throughout the UK but have built strong relationships in the following areas Manchester, Leeds, Liverpool, Sheffield, Preston, Newcastle, York, Chester, Birmingham, Warrington, St Helens, Wigan, Bolton, Bury, Bristol, Southampton, Cardiff, If your business requires funding then we can help you find the solution.

Finally for more information on Start Up Loans Click Here https://www.startuploans.co.uk/

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