StartUp Loans

If you are looking for business Startup funding, then Virgin StartUp is on hand to offer Start Up Loans supported by advice and mentors.

Since launching in late 2013, Virgin StartUp, a delivery partner of the Government’s Start Up Loans Scheme and the entrepreneurial arm of the Virgin Group in the UK, has helped distribute over  £11m to over 1,200 entrepreneurs across all industry types – from retail to manufacturing to tech, the Scheme is sector agnostic Virgin StartUp provides startup support and advice directly to applicants in The Wirral, Liverpool City and surrounding areas. Entrepreneurs and new startup businesses based within Wirral, the Liverpool City Region and surrounding areas, can not only access funding from £500 up to £25,000 per founder, but also receive advice and support from Virgin StartUp to help them with the process. Funding is by no means guaranteed, but they will work with you to get your business plan in as best shape as possible for review.

The Virgin StartUp support is aimed at, not only people with just an idea, but also those who have already started a business and have been trading under 24 months. Every eligible entrepreneur that applies for a Start Up Loan, can receive help and support from Virgin StartUp to help finalise their business plan and financial forecasts, so it can ultimately be reviewed by the Loan Panel in Virgin StartUp where the application will be assessed from a business viability and personal affordability perspective.

If you receive a Start Up Loan, the loan will be paid directly into your personal bank account. You will then be matched with a local mentor who will be committed to at least 15 hours of one-on-one face-to-face support over 12 months. By taking out a Start Up Loan through Virgin StartUp you also get access to offers to help you build a sustainable business – such as being featured on Virgin Red, getting support from JCDecaux Nurture and being featured on VirginStartUp.org if appropriate.. 

Are you eligible to apply for a Start Up Loan through Virgin StartUp?

Are you eligible?

  • Are you at least 18 years old?
  • Have you developed a business idea?
  • Will your business be based in the UK?
  • Are you a UK resident?
  • Has your business been trading for less than 2 years?
  • Have you got the following information to hand?
  • National insurance number
  • Bank details (sort code and account number)
  • Address details (if you have lived at your current address for less than 3 years, you will need your previous address too)

Please note that a Start Up Loan is a personal loan for business purposes. Failure to maintain repayments in line with your agreement could have an adverse effect on your personal credit report and make obtaining credit more difficult.

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