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Start Up Loans Age Cap Lifted

The prime minister has confirmed that the Start-Up Loans age limit will be removed, following recommendations made in a report by Lord Young.

The removal of the cap beyond 30 years old, was one of many recommendations made by Lord Young in his recent report on how to grow small and micro businesses.
The announcement will pave the way for a whole new wave of budding entrepreneurs to raise low cost, government backed finance for their start up ventures.

In doing this, the government has confirmed that it is committed to improving and consolidating the current advice and support schemes, and to ensuring it recognises the needs of small businesses.

Business and enterprise minister Michael Fallon remarked that the government is on the side of small business.

"As Britain recovers, small firms are leading the generation of ideas, creating new jobs and driving enterprise," he said.

"It's important we listen to what small firms want so we make Britain the best place to start, grow and finance a business."

Business secretary Vince Cable added:

"Half of all jobs in this country come from small and medium sized business. So if we’re to get our economy going again, we must do all we can to support them.

"We now plan to do more and do it better, by making our schemes and the way we provide advice much simpler."

If you would like to Apply for a start Up loan, you can now do so here:

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