Yes. A second Start Up Loan is always for the same business as your first. The scheme funds one business per person, so a second loan can't be used to start or buy a different business.
What a second loan can be used for
Anything that grows or strengthens the business you already have, as set out in your updated plan. For example:
- more stock or equipment
- new or bigger premises
- marketing to reach more customers
- taking on a new product or service line within the same business
The usual exclusions still apply. See Eligibility: which businesses and loan purposes are excluded?.
If you're planning a different business
Start Up Loans can't fund it while you're borrowing for your current one. Talk to us on 0800 870 8739 about what you're planning.
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Last reviewed: 8 October 2026