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How to Get Start Up Loans in Northern Ireland

start up loansWe all need a helping hand sometimes. When it comes to starting your own businesses, that helping hand becomes even more important. For some entrepreneurs, it’s as easy as a visit to the bank.. For others, this stage can be the most arduous. The banks may be unable to help, leaving you in a situation where your business remains an idea and a dream. A Start Up Loan with ENI is the perfect solution for those who have had a loan turned down by a bank.

The UK Government has shown its commitment to boosting the Northern Irish economy by offering a financial package which is being used to encourage entrepreneurs in starting up their own businesses. Enterprise Northern Ireland (ENI) is an official Delivery Partner of the Start Up Loans Company and can help to set up these loans for you.

For people with a bad credit rating, it can be extremely difficult to get any kind of loan, but this won’t completely rule out your ability to get a loan through ENI. Keep in mind, however, that you will still have to meet our credit policy and other criteria.

Getting a Start Up Loan through ENI

The process of getting a Start Up Loan through ENI is straightforward and the process should be smooth providing that you supply us with all the information required. It is the perfect solution for entrepreneurs faced with these specific circumstances:

  • If you have been turned down for a loan by a bank. This actually makes up part of the criteria of getting a start up loan through ENI.
  • If you’re based anywhere  in Northern Ireland. The intention is to boost the Northern Irish economy and so the business must be based in Northern Ireland.
  • If you’re having trouble building a business plan, ENI has access to business professionals who offer a free programme (The Regional Start Initiative) to help entrepreneurs create their business plan. The business plan should be able to show how applicants intend to repay the loan, and this is a major factor in the success of your application.

If You Are Successful in Your ENI Loan Application

Those who get accepted for a Start Up Loan through ENI will receive the financing, up to a maximum of £10,000 that they can spend on anything that their business requires. They also have access to 15 hours of business mentoring support over the first year. It’s well proven that businesses which have mentor support are generally more successful over their first year than those which go out on their own.

Another bonus that loan recipients get is a set of special offers provided by an array of companies which can help new companies get off to a flying start. Whether its special deals in website design, business cards or PayPal accounts, every little bit helps.

If you are looking for a start-up loan in Northern Ireland, you are in luck. All is not lost if you get refused by a bank as there are other loan options available, such as the loans offered through ENI.

Start Up Loans through ENI is a responsible lender and we want to provide you with a loan to help you get your business started if that is what you need.  If you are interested in a Start Up Loan through ENI, call us on 028 7776 3555 or contact us online.