A personal loan used for a business

Start Up Loans offers eligible founders £500 to £25,000 over one to five years. It is an unsecured personal loan for business use. You, rather than the studio company, are responsible for repayment. There is no application or early repayment fee.

Use the April 2026 terms

For new successful applications from 6 April 2026, the fixed interest rate is 7.5% a year. First-loan eligibility includes businesses starting up or trading for up to 60 months. Some older online resources still quote 6%; check the current scheme pages linked below.

Other criteria include UK residence, being aged 18 or over and having the right to work in the UK. Credit and affordability assessment apply. The headline age-of-business rule alone does not establish eligibility.

Match the spending to the rules

Training, qualifications, education programmes and debt repayment are excluded uses. Do not budget for Pilates instructor certification from this loan. Check the official eligible-use rules for every planned item.

Prepare your business plan, cash flow forecast and personal survival budget. The application should show both how the studio will operate and how you can meet personal obligations. Follow the official application process for the current evidence requirements.

Sources and further reading

Official guidance supports the finance facts above. Studio checklists and scenarios are Reformer Connect's planning suggestions.

General information, not a personal recommendation. Check current terms and take advice on your own agreement when needed.