Will you be applying for the StartUp Loans (or not)?

[lordlancaster]

The new StartUp Loans are for 18-24yr olds in the UK and the average loan is expected to be around £2,500 per person.

The initial pilot programme will see a range of organisations across the country responsible for managing and administrating the loans in their area so the criteria is likely to vary slightly from one place to the other.

What we do know from the launch event today is that the repayment period is for 5yrs and applicants can take a 1yr 'repayment holiday' at the start. The money is aimed at pre-start businesses or those who are in the very early stages of starting a new business. You can also apply for a StartUp Loan, even if you have an outstanding Student Loan.

From the little information that has been released so far, do the StartUp Loans sound like a good deal to you? Will you be applying, and what would you spend the money on?

[danielprempeh]

I would, when im 18

[lordlancaster]

Hi Daniel, if you're 16yrs old (or over) you can apply for one of our £1,000 Shell LiveWIRE Grand Ideas Awards at: www.shell-livewire.org/awards-start

(We've currently got 4 x £1,000 start-up awards to give away each month and if you win you could also receive a further £10,000 in November).