Age cap lifted on Start-Up Loans

From this week the government’s Start-Up Loans scheme, which is delivered in the North West by Business Finance Solutions (BFS), has been extended from 18-30 year olds to enterprising individuals of any age looking to access finance and mentoring support to start a business.

Following Lord David Young’s recommendation in May, this recent advancement will make everyone across England, Northern Ireland and Wales eligible to apply for a Start-Up Loan for business funding.

BFS has delivered the Loans in the North West since 2011 with successful applicants also receiving expert mentoring, business support and training. Nationally over 8000 loans have now been awarded with over 600 of those in the North West.

Paul Breen, Director of Business Finance Solutions, said: “For the past year we have been working with hundreds of talented and ambitious 18-30 year old entrepreneurs across the North West. The lifting of the age cap today is fantastic news for everyone else over 30 who can now access the financial and practical business support that a Start-Up Loan can give them.

“We’ve been really impressed by the diversity and the maturity of the businesses across the North West – from café owners and graphic designers to furniture makers and wedding planners - and by the determination and commitment of our entrepreneurs to make their dream a reality. We have previously had enquiries from people who didn’t meet the age criteria and we now look forward to welcoming them and a new wave of over 30 entrepreneurs to the programme.”