Funding
Business loans
Greater London Investment Fund
The London Growth Hub launched the Greater London Investment Fund to support growing small and medium-sized enterprises (SMEs) who may lack the capital to expand their business through traditional private sector financing.
Managed by The FSE Group, the Fund aims to:
- create jobs across Greater London
- promote new product development and innovation
- work with the wider finance community to increase reach.
Loans between £100,000 and £1 million are available over up to five years. For further information, and to apply, visit The FSE Group’s website.
Start Up Loans
A Government-funded scheme, Start Up Loans provides loans of up to £25,000 with a fixed interest rate of 6%. Businesses eligible for a loan will also have access to mentoring for a year.
Funding Circle
Loans of up to £500,000 are offered by Funding Circle, funded by investors across six months to five years.
Grants
Innovate UK offer a range of funding competitions for businesses that are championing innovation, with grants available between £25,000 and £10 million. A wide range of other grants for businesses can also be accessed through the GOV.UK website.
Other financing
New Enterprise Allowance
People who are out of work but looking to start their own business may be eligible for the New Enterprise Allowance of up to £1,274 for 26 weeks. Entrepreneurs will have access to a mentor who can offer advice on creating a business plan and provide support on accessing loans to help with start up costs.
UK Business Angels Association
The national trade association for angel and early stage investment, the UK Business Angels Association represents around 18,000 investors who support businesses through debt or equity financing.