Please note: this programme is now closed with Creative UK, however the scheme can still be accessed via British Business Bank.
Creative UK has partnered with the British Business Bank’s Start Up Loans scheme to unlock new and important finance opportunities for people working across the creative industry in the UK.
If you’ve started a business in the last two years, Start Up Loans can help you develop your creative pursuit, offering personal loans of up to £25,000.
What do I need before applying?
To qualify for a Start Up Loan, you’ll need to meet the minimum eligibility criteria and credit checks. Along with this, we will also assess the viability of your business or business idea. Have a look at the business planning documents you’ll need to submit as part of the application and don’t worry if you need a bit of help getting there. Our dedicated financial advisors will be on board during the application process to support you.
So, what do you need?…
An idea of your business plan.
A business plan is the blueprint for your business and is a great tool for focusing your thinking. It helps us understand your goals and how you plan to achieve them, how well you know your market (your customers and your competitors) and what resources you’ll need to deliver and promote your products or services. Importantly, it tells us how you plan to make money and ensure your business is sustainable. Want to go the extra mile? You can fill out the following template to speed up the application process.
An idea of your cash flow forecast.
A cash flow forecast is an estimate of the money you expect your business to bring in and pay out over a period of time (we require a 12-month forecast). It reflects all of your revenue sources (like sales or other payments from customers) compared to your expenses (like supplier payments, premises rental and tax payments). It helps us understand how sustainable your plans are and allows you to predict the financial performance of your business. It also includes sales assumptions to help you work out your anticipated sales and cost of sales for your business for the next 12-months.
An idea of your personal survival budget
Your personal survival budget is a list of all the money you earn or receive in an average month (like a salary, benefits payments or other family allowance) minus a list of all the costs you incur that month (like your rent, your utility bills and your monthly grocery bill). It helps us determine whether you will be able to manage your monthly loan repayments and whether your business will be able to support your lifestyle.
Loans are strictly for 18s and over. Personal loans for business use only. Finance is subject to status. Terms and conditions apply.
Creative England Limited is a UK-wide delivery partner of the Start Up Loans scheme run by The Start-Up Loans Company, a wholly-owned subsidiary of British Business Bank plc.
Creative England Limited is a company limited by guarantee registered in England and Wales with registration number 07432947 and its registered office is situated at 1st Floor, College House, 32-36 College Green, Bristol, BS1 5SP.
Creative England Limited is not a banking institution and does not operate as such. It is not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA).
