Funding initiative, unemployed people who have been claiming jobseeker's allowance for more than six months and want to start their own business can apply for a loan of up to £25,000. Locals councils in England and Wales have money available to new businesses if you can show a benefit to local communities. Similar is available from Scottish Enterprise, a nondepartmental public body of the Scottish government. Independent funding bodies, such as the Social Tech Trust and UnLtd, also fund social enterprises. Start Up Loans The Start Up Loans company is a government-backed scheme that provides finance and mentoring support to early-stage UK businesses. Loans can be provided up to £25,000 at a fixed rate interest of 6% per annum, repayable over one to five years. You also have access to business advisers offering one-to-one mentoring support for 12 months after a successful application. 55