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How to apply for a start up loan

Have a great idea for a business and looking for help to get it off the ground? We’ve got you covered! Read on to see how to apply for a start-up loan and what XCLUU. can offer you when you’re ready to start your journey.

XCLUU. was created by a small business owner for small business owners. Not only are we passionate about creating a solution to support you, but we're also passionate about building a community of small businesses who all benefit from each other.

The basics:

A Start Up loan is a government-backed personal loan available for individuals looking to grow or start their business, just like you!

Successful applicants will be able to borrow £5,000-£25,000 at a fixed rate with a 1-5 year repayment term.

In addition to financing, you will receive 12-months of free mentoring and guidance to help write your business plan. Let’s not forget the best part, there is no application fee!

Checking your eligibility:

Before you get too ahead of yourself, make sure you fall under the requirements!

-you live in the UK

-you’re 18 or over

-you have (or plan to start) a UK-based business that’s been fully trading for less than 24 months

The next step:

If you are eligible for the loan, the next step will be to fill out an expression of interest form. This form is through the Start Up Loans website and is very user friendly. After you have filled out the form, you will be matched with an appropriate Delivery Partner. Your Delivery Partner should be in contact with you within three working days - now the process can really get started!

Delivery Partner?:

The Start Up Loans Company works with a network of Delivery Partner organisations who support Start Up Loans applicants in all regions and industries throughout the UK.

Delivery Partners are responsible for providing pre-loan support and providing ongoing support and mentoring. Although all partners will offer the same loan terms, the level of pre- and post-loan support varies from partner to partner.

The Application:

Expression of Interest form? Check.

Contacted by Delivery Partner? Check.

Now it’s time to discuss your business idea with your Delivery Partner. They will work with you to produce the following documents:

-A business plan

-Cashflow statement

-Personal survival budget

-Photo ID

-Proof of address

-Copy of the last consecutive three months of current account personal bank statements.


This might look overwhelming, but don’t worry. Start Up Loans have easy to follow templates and your delivery partner will be there to help you every step of the way.

And now we wait…:

Arguably the hardest part of the whole process…the waiting! Once you have submitted your loan application a decision will usually be made within six weeks.

Any further questions can be easily answered by the the FAQs on the Start Up Loans website.

Apply for a loan with Start Up Loans here.

Feel free to comment below and we will get back to you as soon as possible. :)

Until our next blog!