£250m in Start Up Loans made available to UK entrepreneurs
Government-funded loans scheme has helped start-up businesses create more than 45,000 jobs since launch in 2012...
The government-backed Start Up Loans scheme has now funded UK entrepreneurs to the tune of £250m – a new milestone – business and energy secretary Greg Clark announced today.
Since its launch in 2012, Start Up Loans has helped thousands of start-up businesses to get their business ideas off the ground and claims to have created more than 45,100 jobs.
See more: Start Up Loans Scheme explained
According to Start Up Loans Company CEO, Tim Sawyer, for every £1 invested in start-up businesses, the scheme has returned £3 to the economy overall.
“Small and medium enterprises drive our economy, and the role start-ups play in this shouldn’t be over-looked. Seeing such a great demand for finance from Britain’s would-be micro-business owners is a great indication of the appetite for growth in this sector.”
Clark added: “This government will build on the success of Start Up Loans to give entrepreneurs the support and opportunities they need to start a business, grow it in Britain and turn it into a global success story.”
Startups.co.uk are supporting The Start Up Loans Company to help start-ups gain access to seed capital. Click here to find out more about how to get started.