The minimum amount you may borrow is £500. Loans are in increments of £500. The size of the loan depends on the start up needs of the business which should be shown in the business plan.
Loans for £3,000 or more will require additional documentation and a more rigorous lending process including an in person interview or video conference call with the loan panel. This can increase the time taken to complete the loan application. Please note that the application process, including due diligence, is more rigorous for loans of £3,000 or more and has a higher decline rate.
Before applying, please check that you are eligible to receive a loan.
Once you have decided to apply for a loan:
The application process is being updated and will be launched on Monday 23rd March – in the meantime if individuals are experiencing any difficulties with applying, please contact 0191 426 6408 or email firstname.lastname@example.org for assistance.
We are currently experiencing significantly higher application volumes than normal. We are working hard to assess all applications as quickly as possible but please note there may be a delay in when you receive a decision on your application.
If you do not receive benefits, you can apply to us directly for a Start Up Loan.
Apply now to enter the Start Up Loan Scheme directly with GLE oneLondon at www.glestartup.co.uk .
Find out what can be funded and other key features of the loan.