Eligibility for new businesses
Without a trading history, lenders lean on your personal credit history, your business plan and cash flow forecast, and your own investment. In the UK, government-backed Start Up Loans are available to people starting or in the early years of a business, alongside free mentoring.
Worked example
£300 a month at 8% over 5 years would repay about £14,795.53, with £3,204.47 of interest.
Before you apply
Many start-up loans are personal loans, so you're personally liable.
This is an estimate. Lenders make their own decision based on your full circumstances and credit history.
Inputs for the startup business loan eligibility calculator
Monthly payment you can afford
What you could comfortably repay each month after your other outgoings.
Interest rate (per year)
The annual interest rate on your loan. The rate shown is only an example, so enter the rate from your quote.
Term
How many years you'd repay over.
CALCULATOR QUESTIONS
Startup business loan eligibility calculator questions
Can I get a loan before my business starts trading?
Yes, through schemes like Start Up Loans or personal borrowing, usually based on your personal credit and business plan.
What do lenders want to see?
A business plan, cash flow forecast, your credit history and your own investment.
Am I personally liable?
Often, yes. Start Up Loans are personal loans.
Is this a guarantee?
No. The lender decides.