Second Loan
Already received a Start Up Loan? If you’re still within your first five years of trading, a Second Loan could give your business the boost it needs to reach the next level.
Reinvest. Regroup. Reignite your business.
Whether you’re launching a new product, hiring your next team member or need a cashflow buffer to keep moving forward, a Second Loan helps you build on the progress you’ve already made.
If it’s been at least six months since your first loan, and you’ve kept up with repayments, you could be eligible.
What could you do with a Second Loan
- Hire more staff and free up your time
- Top up your stock before busy trading periods
- Invest in marketing that attracts more customers
- Upgrade equipment or tech to improve efficiency
- Bridge the gap while you wait for invoices to be paid
Check if you’re eligible in minutes
To apply, you’ll need to:
- Have received your first Start Up Loan at least 6 months ago
- Be trading for between 3 and 60 months
- Have made three consecutive full capital repayments
- Stay within the £25,000 total borrowing cap
As part of your application, you'll be asked to provide an up-to-date Personal Survival Budget, your actual Business Cash Flow covering the last six months (covering the past six months or since you started trading), a 12-month Cashflow Forecast, and three consecutive months of business bank statements.
Your dedicated loan adviser will help you support you throughout the process and help ensure that the loan is affordable. We’ll never lend more than you can manage.
How do I apply for a Second Loan
Log into the Start Up Loans Customer Portal to make sure you're eligible. It takes just a few clicks.
Start Up Loans will run a credit check to confirm you're ready to move forward. Pass this, and you’re on to the next stage.
Provide up-to-date documentation to support your application.
One of our business advisers will carefully review your application and be in touch with a decision, and any next steps, as soon as possible.
Your application is assessed on the full picture; your journey so far, how you’ve managed your first loan, and your plans to grow.
Apply for a Second LoanApply now
Check your eligibility and begin your application today. It takes just a few minutes to get started and your adviser will guide you through the next steps.
Frequently asked questions
Have questions? Here are some of the most common ones we get about Second Loans. If you have more questions, feel free to get in touch with us.