What finance is available for my business?

Written By Molly Oliver

Securing the right funding at the right time can make all the difference for your business – whether you’re launching a start-up, scaling up, or navigating challenging times.

For UK entrepreneurs and growing businesses, there are a range of financial options available to best suit your needs. Let's Do Business Finance is a CDFI (Community Development Financial Institution), that specialises in helping businesses to access the finance they need to move forward with confidence.

 

What Types of Business Finance Are Available for small businesses in the UK?

 

Start Up Loans – Turn Your Idea into a Reality

For aspiring entrepreneurs or early-stage businesses (trading less than 3 years), Start Up Loans are a popular route to funding. These government-backed personal loans for business purposes offer:

  • Loan amounts from £500 to £25,000

  • Fixed interest rate of 6% per annum

  • Flexible repayment terms from 12 to 60 months

As the regional delivery partner for the British Business Bank’s Start Up Loans scheme, Let’s Do Business Finance supports applicants every step of the way. Whether you're opening a café, launching a tech start-up, or developing a product, this can be the funding injection that gets your business off the ground.

Second Start Up Loans – Continue your Growth Journey

If you’ve already received a Start Up Loan and your business has been trading for under 5 years less, you may be eligible to apply for a Second Loan, provided your original loan was less than the maximum £25,000. A second loan is:

  • Available 9 months after your first loan

  • Used to support your business within the first 60 months of trading

  • An affordable way to continue growing your business

Business Loans – Scalable Finance for Established Businesses

If you are looking to manage your cashflow, invest in your business/staff, and grow, there are a range of business loans to best suit your needs.

  • Loan amounts from £25,001 - £150,000

  • 6 Year maximum term

  • Can aid business growth for opportunities, sales, marketing, staff, sourcing new business assets and more

Our Business Loans:

We are a Community Development Financial Institution (CDFI) which allows us to support entrepreneurs and businesses which have been unsuccessful or unable to secure financing through mainstream banks and lenders

Let’s Do Business Finance are an accredited lender of the Growth Guarantee Scheme (formally known as the Recovery Loan Scheme) under the British Business Bank and can lend up to £150k to eligible businesses.


Other Ways to Fund Your Business:

While loans are a major route to finance, they aren’t the only option. Here are some additional avenues UK businesses can explore:

  • Government and Local Authority Grants: Grants are non-repayable funds, often awarded to support innovation, regional growth, or sustainability. They can come from:

    • UK Government departments (e.g. Innovate UK)

    • Local Enterprise Partnerships (LEPs)

    • Regional Growth Funds

    • Sector-specific organisations

    Grants can be competitive and come with conditions, but they can provide vital support for specific projects like research & development, digital transformation, or low-carbon initiatives.

  • Equity Investment: If you’re open to offering up a stake in your business, angel investors or venture capital firms might be interested in backing you, particularly if your business has high growth potential.

  • Crowdfunding: Crowdfunding has become an increasingly popular way for UK businesses to raise capital, engage with their audience, and validate their product or service. This method allows businesses to not only access funding but also build a community of early supporters, generate buzz, and increase brand visibility.

Every business has unique needs, and the right finance options depends on where you are in your journey. At Let’s Do Business Finance, we’re not just lenders, we’re partners who help you understand your options, navigate applications, and make the most of your funding.

Need help deciding which finance route is best for your business? Get in touch with the Let’s Do Business Finance team today and we’ll support you with exploring the right funding fit to fuel your business ambitions.

Molly Oliver
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