The Start Up Loans programme has now made 140,000 loans. According to figures the British Business Bank published on 20 October, the scheme has lent more than £1.4bn to date. Businesses it has funded have helped create or support more than 249,000 jobs across the UK.
The figures came out as 14 small businesses were named the 2026 Start Up Loans Ambassadors. The yearly programme is now in its 14th year.
01What the 2025/26 figures show
The scheme issued 11,520 loans in 2025/26. Hairdressing and beauty businesses received almost 700 of them, more than any other sector. Takeaways, fitness, cafes and online retail also featured strongly.
Younger founders mostly started customer-facing businesses. Among founders under 30, hairdressing and beauty took 209 loans, online retail 150 and fitness facilities 128.
Founders aged 50 and over were more likely to build on professional experience. Their list included software development, management consultancy and educational support.
The money is spread around the country. Since 2012, 70% of the scheme's finance has gone to businesses outside London and the South East.
02Who the new ambassadors are
Twelve of the 14 ambassadors represent the UK's nations and regions. They include a Belfast banjo maker, a Dorset fish cannery, a fashion rental boutique in the Scottish Highlands and an aerospace business in the East Midlands that makes blades for drones.
Two more were chosen from groups the scheme supports. One is a Gen Z founder of a haircare brand. The other, a former Army surveyor, runs a sandwich shop in York.
03Starting with a co-founder?
Several of this year's ambassadors started their business with a partner. That raises a common question. Can you both get a loan?
Yes. Each founder applies separately for their own loan of up to £25,000, and one business can receive up to £100,000 in total. Each loan is personal, so it stays with the person who took it, even if they later leave.
You can share one business plan and cash flow forecast, but each of you needs your own personal survival budget. myplan builds all three in around 30 minutes, free for every bizbritain applicant. Most applicants are approved within one to two weeks of submitting a finished application.
Our new guide explains how co-founders can both apply and what to agree first. To see whether you are eligible, read more about the Start Up Loans scheme.
