Startup Loans - recommendations?

[Martin Singh]

Hi,

Please could someone recommend me some good companies for startup loans? I know go funding circle & some others but I wanted to see what peoples recommendations are please?

Thank you in advance for the responses

Martin

 

[Mark T Jones]

Funding Circle don't lend to start ups.

The best option is the Government-backed Start Up Loan scheme.

It requires clean(ish) personal credit and a well researched business plan

 

[ryan_masslight]

Not a loan but you could apply to MassLight. We invest capital and engineers in early-stage startups in exchange for equity. We're always accepting new applications!

 

[Ian J]

We're always accepting new applications!

Everyone accepts applications but how many applications from startups are turned into loans

 

[ryan_masslight]

Everyone accepts applications but how many applications from startups are turned into loans

We only accept a small fraction of applicants, but still throwing out the alternative as it's not a loan, we invest capital and software engineers to help build and scale startups. The investment is in exchange for equity.

 

[Kerwin]

The best option is the Government-backed Start Up Loan scheme.

It requires clean(ish) personal credit and a well researched business plan

This is where I got my business loan from. Relatively easy process although it took me three or four weeks to write a decent plan with decent research.

 

[StuartBuck]

https://www.transmitstartups.co.uk/ is a great start-up loan company. Alternatively, most lenders will look at you if you are 12 months trading and a homeowner, even if your turnover is low, so consider organic growth for 12 months (or maybe a personal loan) and then you can take a loan out in your business after 12 months of trading.