No. You don't need a business bank account to get a Start Up Loan. The loan is paid into your personal bank account, because it's a personal loan in your name.
Which accounts qualify
- a personal UK bank account in your name
- one that accepts direct debits, because your repayments are collected that way
- for example, a personal current account, or a personal cash account that meets the scheme's criteria
Which don't
- business accounts
- temporary accounts
What you'll need to show
Proof of the account, such as a recent statement, and three months of statements for it. See What documents do I need?.
Using the money for the business
Once the loan is in your account, you spend it on the business costs in your plan. If your business is a limited company, our guide explains how to get the money into the company: Can a limited company get a Start Up Loan?
Last reviewed: 8 October 2026