Getting start up loans with the British Business Bank.
Starting a business can sometimes be very stressful and look impossible. This is due to the financial stress it leaves on the young entrepreneur.
For many, it is either they have some savings, contribution from partners or family. Others however, exploit the choice of securing start up loans or grants.
Start up loans are indeed not too flexible to come by but very helpful. Just as the grants, they’re highly sourced with strict eligibility criteria.
British Business Bank’s start up loans however, provides relief to any promising entrepreneur. They are designed to be used to start a new business or grow an existing business that has been trading for less than 24 months.
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POOR CREDIT FOR START UP LOANS?
Poor credit isn’t necessarily a barrier to getting a Start Up Loan with the British Business Bank. However, the do carry out a full credit check on applicants. The Company is committed to lending responsibly and has to ensure that applicants will be able to repay the loan.
You cannot receive the funds if:
- You are filing for or currently bankrupt or on a Debt Relief Order (DRO)
- You have an outstanding Individual Voluntary Agreement (IVA) or Trust Deed
- You are on Debt Management Programs or Debt Arrangement Schemes (DAS)
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While the bank supports most business types, there are a few that they are unable to support.
CLICK HERE FOR FULL DETAILS TO APPLY
Source: Ghnewspress.com
