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Transmit Start-Up Loans
Published: 13th January 2015.
Transmit Start-Up Loans are loans for people aged 18 or over with an idea for a creative business. The loan package includes a dedicated business mentor to help young entrepreneurs get their businesses off the ground.
Transmit Start-Ups provide mentoring and financial support to young people starting up businesses in the creative sector.
They are partnered with the Start-Up Loans Company, a national initiative launched by the Government and business entrepreneur James Caan to help people aged 18 or over get their business ideas off the ground.
The aim is to give a boost to the UK’s economic growth by helping young people in England and Scotland be more entrepreneurial, removing the obstacles sometimes in the way when starting their own businesses.
Applying is designed to be quick and easy. Loans are intended to be affordable and based on clear terms, and recipients get access to a range of products and services that would not normally be available to new businesses.
Get financial support for your start-up
A Transmit Start-Up Loan includes:
- An unsecured loan of between £1,000 and £10,000 for each founder
- Interest-only payment holidays of up to 12 months if required
- A low interest rate of 6% APR over a repayment period of between 24 and 60 months.
In addition to financial help, you can also get the following:
- Quality business mentoring to guide you all the way from the initial application to business planning and development
- Exclusive discounts from global business partners including eBay, PayPal, Regus, Magento, Intuit, Printing.com and WorldPay.
Get support from a business mentor
Loan recipients are supported by a business mentor with extensive knowledge of the creative sector to help them fulfil their potential.
Transmit has mentored a wide range of creative businesses, including recording studios, tattoo studios, fashion designers and film production companies.
Transmit mentors have all run their own creative start-ups, and continue to do so, whether they are record labels, a music synchronisation company, web development agencies or music management companies.
They understand how creative businesses work and the unique opportunities and challenges that come when balancing creativity and art with business.
How to apply
To start with, applicants should fill in a short form online.
If you are eligible, Transmit will email you a personal survival budget, business plan template and cashflow forecast template to complete (Transmit can help you with this).
Transmit will make an assessment within 24 hours of receiving all of your information and will let you know if you’ve been successful or not. If you are unsuccessful, they will let you know why so that you can apply again.
Please note: you must be based in either England or Scotland to be eligible.
- For examples of repayments, visit the Transmit loans page.
- For more information, contact Transmit Start-Ups directly.
Source: Creative Choices
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