social impact report & annual statement

Start Up Loans hits £1bn milestone of loans to UK small businesses

The loans have help start and grow 105,109 businesses across the UK.

Start Up Loans, part of the British Business Bank, has delivered more than £1bn of loans since its inception in 2012. The loans have been issued to 105,109 businesses, at an average of £9,547 per business.

Key delivery milestones include:

  • Almost 70% of loans have gone to businesses outside London and the South East
  • £371m of loans (nearly 40%) have gone to female founders
  • £201m (20%) of loans have gone to people from Black, Asian and other Ethnic Minority backgrounds

Lending in Yorkshire, The Humber, and the North East
Business Enterprise Fund (BEF) is a Business Delivery Partner for Start Up Loans in Yorkshire, The Humber, and the North East.

In the last 12 years, Start Up Loans has invested £142,453,976 and delivered 14,899 loans within the region.

UK Region Loans Made Amount Lent (£) Average Loan Amount (£)
Yorkshire and The Humber 9,263 £89,997,598 £9,716
North East 5,636 £52,456,378 £9,307
Total 14,899 £142,453,976 £9,512

Supporting under-represented groups
The Start Up Loans programme provides a means of reaching under-represented groups who are excluded from mainstream finance by helping them start businesses.

Of the £1bn loans, nearly 40% have been lent to female business owners, with a total value of £371m, and 20% have been lent to people from Black, Asian and Other Ethnic Minority backgrounds (not including White Minorities), with a value of £201m.

Just 4% of the UK’s small businesses in 2021 were majority-led by people from an ethnic minority group and only 20% of new businesses had female founders according to The Rose Review.

Backing 18-24s to start a business
Young people between 18-24 years old have received £106m (11%) in loans since the programme began.

70% of lending outside London & the South East

Of the £1bn provided to start ups, nearly 70% has gone to small businesses outside London and the South East. The top three regions receiving Start Up Loans outside of London and the South East are the North West (£121.6m), Yorkshire and the Humber (almost £90m) and the South West (almost £85m).

Richard Bearman, Managing Director, Start Up Loans said: "Start Up Loans supports people across the UK who are looking to start their own business. To hit £1bn worth of loans after 11 and a half years is a monumental achievement, not just for our business but for entrepreneurs up and down the country."

"The programme has supported some fantastic success stories, such as Castore, Pip and Nut and Toddle Born Wild, and helped unlock potential across the whole of the UK. The UK has entrepreneurs in every corner and our aim is to do even more going forward to help those that want to set up a business."

Kevin Hollinrake, Small Business Minister said: "Across the UK, thousands of small businesses have now been supported by over a billion pounds in Start Up Loans. This crucial support is enabling enterprising companies like Robin Valley start and scale up their ventures and I urge even more to follow in their footsteps."

About Start Up Loans

The Start Up Loans programme provides personal loans for business purposes of up to £25,000 at a 6% fixed interest rate per annum and offers free dedicated mentoring and support to each business.

The primary aim of the Start Up Loans programme is to ensure that viable start-ups and early-stage businesses have access to the finance and support they need in order to thrive.

For more information and to apply for a Start Up Loan, visit our Start Up Loans page.

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