You can only use Start Up Loans to fund one business, and you can't owe more than £25,000 in Start Up Loans at any one time. Existing borrowers can sometimes take out a second loan for the same business once they've repaid part of the first.
The rules
- One business per person. The scheme funds one business for each borrower.
- £25,000 outstanding at most. Whatever you've borrowed, the amount you still owe across your Start Up Loans can't go over £25,000.
- £100,000 per business. If the business has several partners, their loans together can't go over £100,000 over the business's lifetime.
A second loan
If you already have a Start Up Loan and the business needs more, you may qualify for a second loan. It's a new application with its own credit check, assessment and loan agreement, and it takes the interest rate in force when you apply.
How much you can borrow depends on what you still owe. For example, if you borrowed £15,000 and have repaid £5,000, you owe £10,000, so you could apply for up to £15,000 more.
The full criteria, including how long you must have had your first loan and how many repayments you need to have made, are in Second loans: how do I apply for a second Start Up Loan?.
Not sure if you qualify?
Call us on 0800 870 8739 and an advisor will check where you stand.
Last reviewed: 8 October 2026