Exciting news from the UK Government’s business start up loan initiative, the scheme has now been expanded to cater for 18 – 30 year olds. The funding pot now available to young entrepreneurs within Great Britain has also risen to £112 Million. The target is to lend all £112 Million by April 2015. The Start-Up Loans initiative was created by Lord Young of Graffham, the Enterprise Advisor to David Cameron. James Caan the Chairman of Start Up Loans told the BBC “We have already backed 460 businesses in the last three months. We are looking to back 100 businesses a week,”

Update: 18/05/2016

The scheme is now open to anyone over 18, as opposed to 18-30
The pot of money available to lend is now over £300 million
James Caan is now the ex-chairman

What is the Business Start Up Loan Company?

Watch the following video with Lord Young of Grafton who has been the driving force behind this great initiative for young entrepreneurs in Britain. Read more here