I applied for this loan as genuine support to start my business. The whole purpose of a start-up loan should be to help people begin, not to rely on their past. Instead, I felt the process was focused more on reasons to decline than to support me.I have a good credit history, no debts, a credit card, an overdraft facility up to £3,000, and some savings. Yet none of this was seen as sufficient. I was left confused as to why someone with a clear financial record and determination to work is not considered suitable for support.What surprised me most is that instead of encouraging me to build a business and move forward, I was indirectly encouraged to remain on benefits—when the point of this loan is supposed to be the opposite. The approach taken felt discouraging and dismissive of the potential investment and growth I could create by starting my business.This experience left me disappointed, as I could not see genuine assistance or support in the process. If these loans are truly meant to help people start working and become independent, the way applications are handled should reflect that mission more clearly
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The Start Up Loans Company was established in September 2012, with a mission to help new and early-stage UK businesses access affordable finance and mentoring support.
