16 Oct Looking for a startup loan? This could be the perfect option…
The first year of running your business is often when you might realise that you need a financial helping hand. Short of friends and family with lots of cash to invest? Don’t worry. There are specially website designed business startup loans you can apply for that can help.
Finding the right finance can be confusing, but at The Startup Guys, we can help you see the wood from the trees – or the good deals from the bad.
Transmit Startups is based in County Durham but helps entrepreneurs aged 18-30 from across England. They specialise in helping businesses that are less than a year old to really get off the ground by offering unsecured loans of between £1,000 and £10,000.
Each founder of your business can separately apply for finance, so you are not necessarily limited to the maximum of £10K and repayments can be made over 24-60 months, depending on what suits you best. Like lots of startup loans, the finance provided by Transmit Startups is backed by the government as part of a plan to boost UK economic growth through supporting the development of new businesses. It means you get a better than average interest rate for this kind of loan – with Transmit Startups it’s 6% APR.
The organisation has Dragon’s Den star and serial entrepreneur James Caan at its helm as chairman and there is a team of business experts who provide free mentoring to those who choose to use Transmit Startups for their finance.
At The Startup Guys, we know that having an experienced mentor on your side during the important early stages of setting up your business can make all the difference to your chances of success, so we are particularly supportive of finance providers who include this option for free or at a reduced cost, like Transmit Startups and others.
If the idea of filling out a long application form fills you with dread, then fear not. These guys have a team of people available who are more than happy to guide you through the application process, or just to talk you through how it works before you decide to apply.
If putting a business plan together is dragging you down, they also offer templates to make the process easier and simpler. What more could you want!?