Business Loans For Young Entrepreneurs: Access £1k – £500k – DUPLICATE

Government Funded Schemes

Government funded schemes are available for young entrepreneurs between the ages of 18 – 24. Through this scheme, you could look to borrow a start-up loan up to £2,500, with a repayment period of up to 5 years. Whilst this is a relatively small sum, it provides your business venture with enough financial support to initially get set up.

By choosing this option you will also benefit from being able to access support and training, to help prepare you for the launch of your business and any challenges you might bump into.

The Prince’s Trust

The Prince’s Trust is a charity organisation set up by The Prince of Wales in 1976, offering business funding to young entrepreneurs through its Enterprise Programme. The programme offers loans, training and mentoring to assist young people aged between 18-30 to set up their own business. The entrepreneur loans offered can provide up to £5,000 of funding, and in certain circumstances people can be eligible for business grants.

Business Loans

At SME Loans, we provide small business loans especially designed to meet the needs of young business owners, and young people with entrepreneurial aspirations. Our business loans for young entrepreneurs can provide you with an amount from £1,000 to £500,000, providing your company with the financial support and assistance it needs, when it needs it most.

The application process is quick and simple, and can be completed entirely online. Once your application has been approved, you can expect to see the funding in your account within as little as 24 hours. Repayments are made in monthly installments at a pre-agreed interest rate.

Merchant Cash Advance

You can conveniently look to borrow an amount between £5,000 and £500,000 through our merchant cash advance product. With a merchant cash advance, you can receive the money upfront and then pay it back as a small pre-agreed percentage of your business’ future debit and credit card sales. With this option, you will be able to keep 100% of the money made through cash sales. As with our business loans, the merchant cash advance application form takes just minutes to complete and from approval you can expect to see the money in your account in just 24 hours.

Is My Business Eligible?

Qualifying Criteria

Most businesses should be eligible to secure funding with us. To find out if you are also eligible, check that your business:

• Is registered in the United Kingdom
• Has been actively trading for a minimum of 6 months
• Has a monthly turnover or monthly card sale transactions of at least £5,000
• Has a business owner over the age of 18
• Is a limited company and/ or a sole trader

How To Apply

Step 1:
Click to apply. First of all we will ask you to provide us with the following details:

• The name of your business
• How long your company has been trading
• Your business’ average monthly turnover
• The amount you are looking to borrow

Step 2:
The next step involves disclosing your personal details. We will need:

• Your title, first name and surname
• Position in the business
• Contact details

Step 3:
Take time to thoroughly read through our terms and conditions and click ‘get my quote’. From here your application will be reviewed by one of our commercial directors, who will help find the best lender for your young entrepreneur loan UK.

Step 4:
Please expect a call and email from one of our dedicated account managers to discuss the terms of your loan agreement.

Step 5:
Carefully read through the terms of agreement, then sign the relevant documentation and return it to the lender. You will then be able to access the funds in your account in just 24 hours.