No. The interest rate applicable to a Start Up Loan is fixed for the lifetime of the loan. This means that if the interest rate for a new Start Up Loan changes during the lifetime of your Start Up Loan, the interest rate you are charged for your current loan will remain unchanged. The rate of interest applicable to your loan will be clearly stated in the loan documentation, along with confirmation that the interest rate is fixed for the loan duration.

Tranched Loans are taken at a single rate of interest. If tranche A was drawn at an interest rate of 6%, then tranche B will also be available at an interest rate of 6%. (Subject to normal tranche B drawdown timeframes and conditions).

Similarly, if tranche A was drawn at an interest rate of 7.5%, then tranche B will also be offered at an interest rate of 7.5%.

Second loans are treated as new applications and the interest rate at the point of application will apply. This means that a primary loan and a second loan could have different interest rates.

The interest rate applied to a Start Up Loan is determined by the date of a successful application (which requires a credit check to be passed). As of 6th April 2026, the fixed interest rate on a Start Up Loan is 7.5%. If your business partner successfully applied for a Start Up Loan before 6th April 2026, their loan will be at a 6% interest rate.

An application which has been declined, must wait a period of at least six months before re-applying.

If you apply for a Start Up Loan (and pass the required credit check) before 6th April 2026, you will have 90 days in which to complete the application. If your application is successful, then an interest rate of 6% will apply. If you apply for a Start Up Loan from 6th April 2026 onwards, and your application is successful, then an interest rate of 7.5% will apply.

Please refer to the affordability tools on the SUL website to help determine if a Start Up Loan would be affordable for your circumstances.

If you apply for a Start Up Loan (and pass the required credit check) before 6th April 2026, you will have 90 days in which to complete the application. If your application is successful, then an interest rate of 6% will apply. If a second credit check is required after 6th April 2026, you will be applying for a loan with an interest rate of 7.5% 

From 6th April 2026, the eligibility criteria for a first Start Up Loan will be expanded. Businesses will be able to apply if they have been trading for up to 60 months (five years). This is an increase from the current 36-month limit.

Startups and early-stage businesses often struggle to obtain adequate funding and support from traditional banks and lenders at advertised starting rates.

Start Up Loans are designed to provide finance and support to small businesses at the early and startup phases. The loan is provided on a personal, unsecured basis, meaning no assets are required as security for the loan.

Start Up Loans also offer free business support through the application process, along with post loan support and resources to further aid your business.  

We are confident that the Start Up Loans interest rate and associated terms provide market leading value in comparison to other lending options.

At the inception of the Start Up Loan (SUL) scheme in 2012, the interest rate was established as 6% and has remained static since. As a result of economic and market changes the product offering has been reviewed, resulting in a new interest rate of 7.5% which will be applied as of 6th April 2026.

The change in the interest rate to 7.5% addresses some of the disparity with the wider lending market, whilst still maintaining a market leading solution in providing finance and support to small businesses.  

Start Up Loans continues to offer enhanced Business Support throughout the application, along with post loan support at no extra cost to the borrower.

The trading limit is being extended to 60 months to ensure the programme continues to support a broader range of early-stage businesses. This change recognises that some businesses may require finance and guidance later in their development and provides greater flexibility for those seeking support.