Yes. You don't need to be trading to apply for a Start Up Loan. Many people apply before they've made a single sale. What you do need is a clear business idea that you can plan out.
What "a clear idea" means
You should be able to say:
- what you'll sell, and who will buy it
- roughly what it will cost to get started
- how the business will make enough money to cover your costs and repay the loan
You don't need to have written any of this down before you contact us. Your business plan, personal survival budget and cash flow forecast are part of the application, and myplan, our free planning tool, builds all three with you by asking plain questions.
What you don't need yet
- To be trading. Pre-launch businesses are eligible, and so are businesses that have been trading for up to 60 months.
- To be registered. You don't need to register with Companies House or HMRC before you apply.
- A deposit. The scheme doesn't require you to put money of your own into the business. See Do I need a deposit for a Start Up Loan?
If you don't have an idea yet
A Start Up Loan funds a specific business, so you need to know what that business is before you apply. Once you've settled on an idea, come back to us and we can help you turn it into an application.
Check in 60 seconds
Our eligibility check takes 60 seconds and doesn't involve a credit search. For the full list of criteria, see Start Up Loan eligibility: am I eligible? or our guide, Am I eligible for a Start Up Loan? The 2026 checklist.
Last reviewed: 8 October 2026