Business start-up loans, mentoring and support

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Start Up Loan application stages

There are seven stages involved in the Start Up Loan scheme.

1. Register online

To start your application click here to register online. You’ll need to provide some personal details at this stage and confirm that you’re eligible to apply.

Within 2 working days, you will receive an email with details of the next stage in the application process.

If you do not receive this email within 2 working days please check your spam folder and then call 0333 005 0487.

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2. Complete and E-Sign Newable Start Up Loan application document

If you have passed the initial eligibility checks you will be invited to continue your application.

You will be sent an email with a link to an online form which you will need to complete and E-Sign before you can progress to the next stage.

Please make sure the information is accurate and the form fully completed. The information in the application form will be used to carry out a credit assessment to determine if you meet our lending criteria.

If you pass the assessment this will be valid for 90 days.

The loan process will need to be completed within 90 days of the credit check, otherwise the assessment will need to be re-checked to continue the application. We therefore advise that if you are only exploring your business idea and are not ready to start that you wait to complete this stage.

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3. Create a business plan

An adviser will call you to talk about your proposed ideas and assess how ready you are to start a business.

If they decide that that your business idea can work they’ll help you create a business plan.

If not, the adviser will tell you about other organisations which may be able to help.

Once you’ve created your business plan, you will need to submit the following:

  • Your business plan
  • A cash flow forecast
  • A personal survival budget

Additional documentation may be requested to support your application. Your Finance Adviser will provide you with details of what is required.

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4. Present your idea to the Newable Start Up loans panel

Once we’ve received and checked your application and documentation, an adviser will contact you to meet Newable’s Start Up loan panel.

The panel assessment will be by video conference or in person if you live in close proximity, and help you borrow exactly the amount you need.

Your proposal will be assessed in a 45 to 60 minute interview by one of our pool of experienced panelists.

The pool includes people with a broad and deep expertise in lending to small businesses and running their own ventures.

The interview is much like a conversation with a trusted business associate; it covers the objectives of the loan advance and the risks associated with it to ensure that adequate understanding and mitigation of those risks is in place, and ultimately that the loan is affordable. 

Many interviewees come away with hints and tips, and a greater sense of confidence about what they are going to do. Whether you receive a loan or not we want you to feel that you have benefitted from the experience. 

Our primary aim is to ensure we lend responsibly and we also aim for the business owner(s) to gain confidence from a better understanding of their business.

If the application is considered viable after assessment it will be approved and you will move onto the next stage which involves returning signed loan documentation.

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Stage 5. Get your loan

Once your application has been approved, you will be issued with a set of loan documents from our Finance Partner, Business Finance Solutions. You will need to sign and date these.

Please do not commit any funds for your business until you have received the loan in your account.

If loan documents are not returned to Business Finance Solutions within 10 working days of receipt, your documents will expire and will need to be reissued.

It is therefore important that you return the documentation promptly to avoid disappointment.

Once Business Finance Solutions have received correctly signed and dated loan documents from you, the loan will be issued directly into your personal bank account. Please note this account must be able to accept direct debits. Check this list of bank accounts which we cannot pay loans into.

Note you have the right to withdraw from the loan agreement within 14 days (‘cooling-off period’) of signing, without giving reason.

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Stage 6. Loan repayments

Your loan documents will indicate your monthly repayment date.

You will need to make sure that your account has enough money in it, every month on this date, as repayments will be taken by Direct Debit.

Please ensure you have sufficient funds to meet your monthly loan repayments when they become due. Failure to repay the loan may result in your credit profile being adversely affected and may also result in recovery action being taken. If you have any difficulty in repaying your loan, please speak with our Finance Partner, Business Finance Solutions. Their Collections Team can be contacted on 0161 245 4900 or by email at

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Stage 7. Contact your mentor

If your loan application is successful you'll get free mentoring during your first twelve months of trading.

If you do not hear from us within 5 working days of receiving your loan, please call 0333 005 0487 or email

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Got any questions which aren't answered here?

Contact an adviser using this form or
call 0333 005 0487 . Our offices are open Monday to Friday from 9.30am - 4.00pm.

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Newable Start-Up Loans

Newable Business Loans Ltd t/a Newable is authorised and regulated by the Financial Conduct Authority (FRN: 700160).
Newable Business Loans Ltd t/a Newable assess client applications and then refer these for the disbursement and collection of the Start-Up Loan to The Enterprise Fund Ltd t/a Business Finance Solutions (BFS) (FCA Interim Permission Number: 523077)
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