I have a bank loan, can I still apply for government funding?

Thank you for your question regarding receiving government funding if you already have a bank loan. There is no direct answer to this question.

There are many government funding programs available in the form of grants and loans. Each fund has its own terms and conditions as well as eligibility criteria. There may be some funds that exclude those who already have a bank loan, but there may be many that do not make such an exclusion.

You can search for funds based on your specific business needs using a convenient and easy to use tool called the Startup Assessment Tool on the UKStartups.org website. Because funding changes periodically, it is best to begin your search only when you are prepared to apply. You can also find application tips and proposal templates on the website. If you have further questions you can call UKStartups 020 3880 8554, toll free.

There are hundreds of government funding schemes available for small business owners in the UK. In fact, our Funding Database currently has over 600 government funding schemes and over 500 private investors available for small business owners and startup entrepreneurs. What are you doing to take advantage of this? Become a member and start your search.

Take advantage of the Small Business Startup Assessment Tool below and see the tools and resources you need to succeed at starting your small business. It just takes 30 seconds and will also tell you if there may be any funding assistance available.

Be sure to look at the hundreds of daily questions and answers we have from entrepreneurs like you who want to learn more about starting a business, creating a business plan, searching for funding. Our small business experts take the time to answer each and every single question, so if you have something on your mind – we can help!

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