Every day hundreds of people come up with clever business ideas, but they are often held back by the lack of cash to fund their business. Often inspired entrepreneurs don’t have sufficient funds and they feel they lack of the required business acumen to launch a new business venture. The Startup Loans Scheme and Startup Direct are here to help with funding and mentoring. There are also plenty of organizations that will enable you to access all the business information and practices to help you not only to startup, but also to make meaningful connections that could help you to launch and succeed with your enterprise.
What is a business startup loan calculator?
There are an increasing number of options available for you to raise the money you need to fund your business idea and to enable you to startup. Startup Direct has a business loan calculator that allows aspiring entrepreneurs to find out how much money they can actually borrow, the length of time they can borrow the money for, but most importantly the length of time available to pay back that sum. This clever system, called the Startup loan calculator, is a useful tool that allows you to find out the interest rate due in order to give you a clear idea of where you stand.
How does startup borrowing work?
The business startup calculator is extremely simple to use and it makes borrowing fast and easy to apply for. You can access this useful tool and simulate your borrowing, simply visit startupdirect to get started you are required to ask three simple questions regarding your age, right to live in the UK and where your business will be based. Being over 18 years of age, being entitled to live and work in the UK and developing your business venture in the UK are the three key requirements of the government-backed Startup Loans Scheme.
Each aspiring entrepreneur can borrow a maximum of £25,000 with a reasonably low cost of money, a fixed 6,2% (APR) annual interest rate. The borrowing can be done for no longer than 5 years. There are no application fees or early repayment fees required. This money is available only to UK based startups and is made available by the government to fund new business concepts and accelerate the UK startup economy.
The benefits of joining the Startup Loans Scheme
The advantage of accessing and benefiting from this scheme is that you will not only receive enough money to fund your business idea, but also it will give you the right to receive free support and guidance to help you complete all the business documents required to apply for the funding, such as your business plan and cash-flow. In addition, each successful candidate will be entitled to receive free business mentoring worth £5,000 for a 3 years period through our Start & Grow Scheme. Successful applicants will have access to exclusive workshops to be able to gain knowledge and learn about new useful tools to successfully run their startup. There will be free access and invitation to networking events where aspiring entrepreneurs can meet mentors, successful entrepreneurs, other startup entrepreneurs and have the opportunity to connect, exchange useful tips & experiences and establish potential profitable partnerships.
Other benefits that can be drawn by joining the startup scheme include receiving exclusive deals and discounts for co-working spaces, startup only reserved discounts and business offers, accessing other sources of funding to help you develop your business venture further and receive free PR and marketing promotion to help you to promote your business concept.