5. Applying for a Start Up Loan: What to expect Looking to raise finance for your new business? Join the 30,000 plus Start Up Loan recipients today… Emma Vince October 18, 2021 3 min read Our experts We are a team of writers, experimenters and researchers providing you with the best advice with zero bias or partiality. This article was authored by: Emma Vince The government-backed Start Up Loans Company provides funding and free mentoring support to help start or grow your business.Check your eligibility!The first step in your Start Up Loans journey is checking to see if you are eligible for funding. To do this, complete the simple eligibility checker here.Getting startedIf you are eligible for a loan, the next step is completing an expression of interest form. This is a simple form which requires you to provide Start Up Loans with some basic information, such as your contact details. These will then be sent to the most appropriate Delivery Partner, who will contact you within three working days to get the process started.What is a Delivery Partner?The Start Up Loans Company works with a network of Delivery Partner organisations who support Start Up Loans applicants in all regions and industries throughout the UK.They will be responsible for providing pre-loan support, making the loan decision and providing ongoing support and mentoring. All Delivery Partners offer the same loan terms; however the method of pre- and post-loan support varies between partners. The Start Up Loans Company closely monitor all Delivery Partners to ensure consistent quality of delivery.Application processSo you’ve filled out an expression of interest form and you’ve been contacted by your Delivery Partner. Next, you should expect to discuss your business idea with your Delivery Partner. They will then work with you to submit the following documents:Business planCashflow statementPersonal survival budgetPhoto IDProof of addressCopy of the last consecutive three months of current account personal bank statements, so we can assess your affordability in line with our responsibilities as a lenderCVAs an early-stage entrepreneur, it’s understandable that you may need support with your business plan, cashflow and personal survival budget. Templates are available from Start Up Loans and Delivery Partners will offer support and guidance throughout your loan application. You can also find plenty of advice in Startups’ business plan, raising finance and bookkeeping & cashflow sections.How long does the process take?Once you have submitted your loan application a decision will usually be made within six weeks.If you have any further questions, please visit the FAQs on the Start Up Loans website.Apply for a loan with Start Up Loans here. About Startups.co.uk Startups.co.uk is a trading name of Marketing VF Limited, which is an appointed representative of Resolution Compliance Limited (FRN: 574048) ) which is authorised and regulated by the Financial Conduct Authority. Marketing VF Limited is registered in England and Wales. Company number: 06951544. Registered office: Wenlock Works, 1 Shepherdess Walk, London N1 7BQ, United Kingdom. Our Complaints Policy If you feel dissatisfied with any aspect of our service, then in the first instance please contact dataprotection@mvfglobal.com. We will immediately carry out an investigation of your complaint and we will provide a written response.If we cannot resolve your complaint within three business days, we will refer your complaint to our principal firm, Resolution Compliance Limited, to complete an independent investigation and communicate the outcome to you.If we are unable to resolve your complaint to your satisfaction and you are an eligible complainant as defined by the Financial Conduct Authority, you will have recourse to the Financial Ombudsman Service. Details of the Financial Ombudsman Service are:The Financial Ombudsman ServiceExchange TowerLondon E14 9SRcomplaint.info@financial-ombudsman.org.uk+44 (0) 20 7964 1000 (switchboard)+44 (0)20 7964 1001 (main fax)0800 023 4 567 – Calls to this number are now free on mobile phones and landlines0300 123 9 123 – Calls to this number cost no more than calls to 01 and 02 numbers Share this post facebook twitter linkedin Emma Vince