Start-up Loans

Looking for a Start-up loan?

There is a whole range of loan options available and we can work with you to identify the best route for you to take.

It can be complex understanding what finance option is most appropriate for you and how you can maximise what you are able to access, so speak to us before you make a decision.

If you are eligible for a business loan we can help you to make a strong application and we have good connections with all local funders.  If it’s an accountant or tax advisor you need, we know our local market so we can route you to appropriate contacts in our local area, just give us a call.

Current Start-up loans available:

Start-Up Loan Fund

A national, Government-run scheme offering loans and free business support to new entrepreneurs at low interest rates.

  • Borrow up to £25,000
  • Fixed interest rate of 6% APR
  • 1 – 5 years loan repayment term
  • No set up or early repayment fees

The Northern Powerhouse Investment Fund (NPIF) II

NPIF II can help provide the funding gap you may need if you are an entrepreneur looking to start your own business.

Loans are available to help start-up and growing businesses:

  • Small business loans available from £25,000 to £100,000 to support working capital needs
  • Finance is available for a wide range of purposes

The regeneration subsidiary of Tata Steel who focus on former steel areas affected by changes in the steel industry.

Loans are available to help start-up businesses:

  • Borrow up to £5,000
  • Fixed interest rate of 6.8% APR
  • 1-3 years loan with monthly repayment term
  • Available for pre-start businesses and up to 3 years of trading

To find out more information on these loans and support to apply please contact:

Business Engagement Team

T: +44 (0)1642 444366

E: business@redcar-cleveland.gov.uk

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