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Access to Finance

Start Up Loans

Enterprise NI is part of a UK-wide network of business support partners and working with the British Business Bank, we deliver Start Up Loans across Northern Ireland.  A Start Up Loan is a personal loan for business purposes for a term of 1 to 5 years at a fixed rate of 6% per annum. Applicants must be aged 18 or over at the time of the application. A credit check will be completed.

  • All owners or partners in a business can individually apply for up to £25,000 each, with a maximum of £100,000 available per business. 
  • The average loan amount is £9,295.
  • Fixed interest rate of 6% p.a.
  • 1 – 5 year loan repayment term.
  • Free application support.
  • Free post-loan support and mentoring.
  • Free templates & guides.
  • No application or set-up fees.

To be eligible to apply for a Start Up Loan, you must meet the following criteria:

  • Be a current UK resident.
  • Be 18 years of age or older.
  • Be starting a new business or have been trading for up to 36 months.
  • Have the right to work in the UK with their business based in the UK.
  • Be unable to secure finance from other sources (self-declaration is ok).
  • The type of business and reason for wanting the loan is eligible under the terms of the scheme.
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The Start Up Loans Company is a wholly owned subsidiary of British Business Bank plc. It is a company limited by guarantee, registered in England and Wales, registration number 08117656, registered office at Steel City House, West Street, Sheffield, S1 2GQ.

British Business Bank plc is a development bank wholly owned by HM Government. British Business Bank plc and its susidiaries are not banking institutions and do not operate as such.

They are not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). A complete legal structure chart for the group can be found at www.british-business-bank.co.uk.

Start Up Loans NI Ambassador 2024/25

Sarah-Jane Murray, founder of Vocus Vit, a sustainable activewear company is among 14 businesses announced today as Start Up Loans’ 2024 Ambassadors.Vocus Vit offers premium activewear for ladies with a strong focus on sustainability and ethical business practises. Without compromising on comfort, fit and style, the range is made from materials such as recycled plastic bottles.

 

Sarah-Jane used a £10,000 Start Up Loan, supported by the programme’s Business Support Partner, Enterprise NI, to expand her inventory and invest in growing her business further after returning from Australia to her hometown in County Tyrone following the birth of her son Albie.

Grow your business with NI Small Business Loan Fund

The NI Small Business Loan Fund is part of Invest NI’s Access to Finance Strategy, managed and delivered in Northern Ireland through the partnership of Enterprise NI and Ulster Community Finance Ltd. 

  • Loans range up to £100k for existing businesses and up to £15k for start-ups.
  • Funding can be provided for a range of purposes including Working Capital, Asset Purchases, Growth Finance, Start-Up Costs, and Match Funding.
Apply for funding

What can I seek funding for?

Business Start Up
Cost

Expansion or Growth
Finance

Working
Capital

New Product Of
Market Development

Match
Funding

New Asset
Purchases

To be eligible to apply for a NI Small Business Loan Fund, you must meet the following criteria:

  • Businesses must be predominantly based in Northern Ireland and have been unable to access mainstream finance.
  • Flexible term up to five years with flexible repayment breaks with no penalty.
  • Full early settlement rebate.
  • Personal support every step of the way.
  • The fund lends to individuals for business purposes and Limited Companies. Loans are typically unsecured however Personal Guarantees may be sought.*
  • Business Loan pricing quotes can be obtained using the loan calculator.*

Did you know, since its launch in 2013, the NI Small Business Loan Fund has provided over £6m of loans to over 270 businesses all across Northern Ireland. 

* Credit is subject to status, affordability assessments, and credit checks. Terms and conditions apply.

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How the NI Small Business Loan Fund Works

Hear from our Loan Executives on how the NI Small Business Loan Fund can support you.

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