You can apply for a second Start Up Loan once your first loan has been running for at least six months and you've kept up your repayments. A second loan is always for the same business, and you can't owe more than £25,000 in Start Up Loans in total.
Who qualifies
You need all of these:
- Your first loan was drawn down at least six months ago.
- You've made at least six full monthly repayments.
- You've made every scheduled repayment in the three months before you apply. If you had a capital repayment holiday, you need to have made three full capital repayments.
- Your business has been trading for at least 3 months and no more than 60 months.
- The second loan is for the same business as your first.
- What you still owe, plus the new loan, comes to £25,000 or less.
How much you can borrow
It depends on what you still owe. For example, if you borrowed £15,000 and have repaid £5,000, you owe £10,000, so you could apply for up to £15,000 more. Our finance partner can tell you your current balance.
How it works
- It's a new application, with its own credit check, assessment and loan agreement.
- It's a separate loan, with its own monthly direct debit.
- It's charged at the interest rate in force when you apply. See What's the interest rate, and can it change?.
What you'll need
- an updated personal survival budget
- your business's actual cash flow for the last six months (or since you started trading, if that's shorter)
- a 12-month cash flow forecast
- three months of business-related bank statements (personal statements are fine if you mark the business transactions)
How to apply
Apply to us directly by calling 0800 870 8739, or start through the Start Up Loans website. Your advisor will check you qualify before you put your documents together.
Last reviewed: 8 October 2026