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.
Ready to apply?
See Second loans: how do I apply for a second Start Up Loan? for the criteria and how to apply.
Last reviewed: 8 October 2026