{"id":19754,"date":"2022-10-03T09:26:32","date_gmt":"2022-10-03T09:26:32","guid":{"rendered":"https:\/\/www.moorethompson.co.uk\/blogs\/?p=19754"},"modified":"2022-10-03T09:26:34","modified_gmt":"2022-10-03T09:26:34","slug":"33000-new-loans-available-for-small-businesses","status":"publish","type":"post","link":"https:\/\/www.moorethompson.co.uk\/blogs\/33000-new-loans-available-for-small-businesses\/","title":{"rendered":"33,000 new loans available for small businesses"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/www.moorethompson.co.uk\/blogs\/wp-content\/uploads\/2022\/10\/M.T.-Blog-Graphic-03.10.2022-1024x576.png\" alt=\"\" class=\"wp-image-19755\" srcset=\"https:\/\/www.moorethompson.co.uk\/blogs\/wp-content\/uploads\/2022\/10\/M.T.-Blog-Graphic-03.10.2022-1024x576.png 1024w, https:\/\/www.moorethompson.co.uk\/blogs\/wp-content\/uploads\/2022\/10\/M.T.-Blog-Graphic-03.10.2022-300x169.png 300w, https:\/\/www.moorethompson.co.uk\/blogs\/wp-content\/uploads\/2022\/10\/M.T.-Blog-Graphic-03.10.2022-768x432.png 768w, https:\/\/www.moorethompson.co.uk\/blogs\/wp-content\/uploads\/2022\/10\/M.T.-Blog-Graphic-03.10.2022.png 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>An \u00a3884 million loan scheme for new businesses is to be expanded, it has been revealed.<\/p>\n\n\n\n<p>Announced by Business Secretary Jacob Rees-Mogg last week, there are 33,000 new loans available, offering much needed financial support to start-ups across the UK.<\/p>\n\n\n\n<p>The scheme\u2019s eligibility originally supported businesses trading for up to two years but has now been increased to three years.<\/p>\n\n\n\n<p>Your business can apply for this financial aid immediately under the new measures.<\/p>\n\n\n\n<p><strong>What is the Start Up Loans scheme?<\/strong><\/p>\n\n\n\n<p>Since its launch in June 2012, the scheme has supported UK start-ups with more than 95,000 loans, providing an average of over \u00a39,000 per loan.<\/p>\n\n\n\n<p>Start Up Loans provide a fixed interest rate of six per cent, alongside mentoring, guidance and financing to new business owners.<\/p>\n\n\n\n<p>As well as this, an additional loan will be offered to businesses running for up to five years, providing much needed support to aid their growth.<\/p>\n\n\n\n<p><strong>Further support<\/strong><\/p>\n\n\n\n<p>The news of this expansion builds on further important measures the Government has introduced for small businesses.<\/p>\n\n\n\n<p>This includes extending the \u00a34.5 billion&nbsp;<a href=\"https:\/\/www.gov.uk\/guidance\/recovery-loan-scheme\">Recovery Loan Scheme<\/a>&nbsp;and&nbsp;supplying the&nbsp;<a href=\"https:\/\/helptogrow.campaign.gov.uk\/\">Help to Grow schemes<\/a>, which deliver mentoring and free software to thousands of UK firms.<\/p>\n\n\n\n<p>Michelle Ovens&nbsp;CBE, Found of Small Business Britain, commented on the announcement:<\/p>\n\n\n\n<p>\u201cThe expansion of funding opportunities for start-ups and growing businesses will certainly be welcomed by small firms as a positive move to unleash their potential.<\/p>\n\n\n\n<p>Access to finance is vital for entrepreneurs to grow, and with rising costs and challenges across the board they need all&nbsp;the help they can get right now to realise their ambitions.\u201d<\/p>\n\n\n\n<p><strong>Are you a small business owner looking for advice? Contact us today.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>An \u00a3884 million loan scheme for new businesses is to be expanded, it has been revealed. Announced by Business Secretary <a href=\"https:\/\/www.moorethompson.co.uk\/blogs\/33000-new-loans-available-for-small-businesses\/\" class=\"more-link\">&#8230;<span class=\"screen-reader-text\">  33,000 new loans available for small businesses<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[26,4,28],"tags":[],"class_list":["post-19754","post","type-post","status-publish","format-standard","hentry","category-blog","category-business","category-smes"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.moorethompson.co.uk\/blogs\/wp-json\/wp\/v2\/posts\/19754","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.moorethompson.co.uk\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.moorethompson.co.uk\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.moorethompson.co.uk\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.moorethompson.co.uk\/blogs\/wp-json\/wp\/v2\/comments?post=19754"}],"version-history":[{"count":1,"href":"https:\/\/www.moorethompson.co.uk\/blogs\/wp-json\/wp\/v2\/posts\/19754\/revisions"}],"predecessor-version":[{"id":19756,"href":"https:\/\/www.moorethompson.co.uk\/blogs\/wp-json\/wp\/v2\/posts\/19754\/revisions\/19756"}],"wp:attachment":[{"href":"https:\/\/www.moorethompson.co.uk\/blogs\/wp-json\/wp\/v2\/media?parent=19754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.moorethompson.co.uk\/blogs\/wp-json\/wp\/v2\/categories?post=19754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.moorethompson.co.uk\/blogs\/wp-json\/wp\/v2\/tags?post=19754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}