GC Business Finance awarded national Start Up Loans contract

GC Business Finance (GCBF) - part of the Growth Company, has been providing Start Up Loans to entrepreneurs in the North West for the past decade, and with this expansion, it's become the leading UK BSP for Start Up Loans.

The Start Up Loans scheme, which is delivered by the British Business Bank, provides financial support, guidance, and advice to entrepreneurs looking to start their own business. In February, the scheme delivered its 100,000th loan.

Expanding the existing team of five, the new roles consist of eight underwriters, an underwriting team leader, two pipeline managers, a business advisor, and a national engagement manager. GCBF will continue recruiting as it expects its Start Up Loan output to quadruple over the next three years, targeting delivery of over £90m.

In particular, the company will be looking to deliver loans to those who may face more barriers when trying to access finance to grow a business, especially female and black and minority ethnic (BAME) entrepreneurs.

GCBF will also deliver pre-application support and has partnered with Fashion Angel, a London-based specialist business support organisation, to assist with providing loans to the fashion sector.

Alex Mearns, Head of Startup Lending at GCBF, said:

"We are extremely proud to have secured the UK-wide contract for the Start Up Loans scheme. We are excited to welcome our new team members and expand our support to entrepreneurs across the country. Early-stage entrepreneurs are the lifeblood of the economy, and if we can help more of them access the early finance they need, then we can get them ready for mainstream lending and further growth."

For more information on the Start Up Loans scheme and how to apply, visit https://www.startuploans.co.uk/

For more information about GCBF, visit: https://businessfinance.growthco.uk/