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Yes, though the options are more limited than for established businesses. Asset finance is the most accessible route for brand-new businesses because the asset itself acts as security, reducing the lender's risk. Unsecured startup business loans are available up to £25,000–£50,000 for sole traders and limited companies with a credible business plan, personal credit history, and evidence of demand (letters of intent, pre-sales, or a signed commercial lease). A government-backed Start Up Loan (up to £25,000) is also worth considering alongside commercial options.

There's no fixed ceiling; it depends entirely on the nature of your business, the purpose of the finance, and your personal financial position. For asset finance (equipment, vehicles, machinery), lenders often advance up to 100% of the asset's value, even for new businesses. For unsecured business loans without trading history, typical limits are £5,000–£50,000. Secured loans and commercial mortgages can go higher but usually require trading history or personal security.

A formal business plan is not always legally required but is strongly recommended. For startup business loans, most lenders expect a business plan that includes: a description of the business and how you'll generate revenue, startup cost breakdown, 12-month cashflow forecast, details of any pre-sales, contracts, or letters of intent, and your personal financial position. Asset finance applications are simpler and may only require a supplier quote. Our tools above help you build the financial sections of a credible plan.

A personal guarantee is a legal commitment that you will personally repay the business debt if the company cannot. Most startup business loans require a personal guarantee because there is no trading history for the lender to assess. This means your personal assets (including your home, in some cases) could be at risk if the business fails to repay. Personal guarantees can sometimes be limited in scope, for example capped at a fixed amount or limited to one director. We discuss guarantee positions with every startup client before recommending a lender.

Asset finance on a specific piece of equipment can be approved and funded in 24–48 hours once documentation is complete. Startup business loans typically take 3–7 working days for a decision and a further 3–5 days to fund. Government-backed Start Up Loans take 4–6 weeks on average. For the fastest route, have your business plan, cashflow forecast, identification documents, and bank statements ready before you apply. Our tools above help you prepare exactly the documents lenders need most.

A Start Up Loan is a government-backed personal loan (not a business loan) of up to £25,000 per director, delivered through a network of accredited lenders at a fixed 6% APR. They come with free mentoring but take longer to process and have strict eligibility criteria including trading for less than 36 months. Commercial business loans from private lenders are faster, can be larger, and are more flexible, but carry market rates rather than the fixed 6% APR. Most well-prepared startups benefit from considering both alongside asset finance.