Second stage funding for startups: High-street banks are opening more doors for entrepreneurs

Prime Minister David Cameron recently announced £69 million of funding for businesses in Britain, including the ‘Start Up Loans’ scheme. Second-phase funding has now been offered to Start Up Loan entrepreneurs, as part of their continued contribution to growth in the UK economy.

The Start Up Loans scheme, chaired by James Caan and championed by Sir Richard Branson and Lord Young has so far lent £44 million to over 7600 people.

Banks such as Santander are now making secondary loans of up to £25K available to entrepreneurs to help ‘bridge the funding gap that many entrepreneurs encounter’ according to Steve Pateman, head of UK banking at Santander.

To find out more about types of funding available to UK businesses, visit http://www.businessfunding.co.uk/

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