Business funding, loans, and grants
You can get financial support from many different organisations for your new business.
Coronavirus (COVID-19) financial support
Find out what funds, loans and advice are available from Lambeth Council's business support for coronavirus.
Funding Circle offers loans of up to £250,000 to help with the impact of coronavirus (COVID-19) on your business.
Discounts for business rates
Most businesses need to register for business rates. You may be able to reduce your business rates.
Loans for small and medium businesses
The London Growth Hub has a list of support schemes for businesses who have not been able to grow through private sector funding. They help businesses grow by helping to create jobs and promoting new product development and innovation.
The Greater London Investment Fund has loans between £100,000 and £1 million. These loans are available for both new and established businesses in a London borough. You should check the eligibility criteria on their website.
Start-Up Loans is a government-funded scheme that provides loans of up to £25,000. There is a fixed interest rate of 6%. Businesses who receive a loan also have access to mentoring for a year.
Grants
Innovate UK offers a range of funding competitions for businesses that develop innovative products and services. They have grants available between £25,000 and £10 million.
Other financial help
GOV.UK's finance and support for your business web page has a list of organisations that offer loans, grants and funding.
The New Enterprise Allowance is for unemployed people who want to start a business. It might be able to give you a weekly allowance of up to £1,274 for 26 weeks. You'll have a mentor who can offer advice on creating a business plan. You can also get support on finding loans to help with start-up costs.
The UK Business Angels Association is the national trade association for people who invest in businesses when they are starting up. They represent around 18,000 investors who can support businesses through debt or equity financing.