Yes. You can pay off part or all of your Start Up Loan early, at any time, and there's no penalty for doing so.
Paying it all off
Ask our finance partner for a settlement figure. This is the exact amount needed to clear your loan on a given day. Their contact details are in your loan agreement.
Paying some of it off
You can also make one-off payments towards the loan without clearing it. Ask our finance partner how the payment will be applied before you make it.
Why repay early?
Interest is charged on what you still owe, so reducing your balance early means paying less interest overall.
Before you do
Make sure your business still has enough cash to run comfortably. A Start Up Loan can't be redrawn once you've paid it back. If you need more later, that means a new application. See Second loans: how do I apply for a second Start Up Loan?.
Last reviewed: 8 October 2026