What this UK calculator covers
The UK scheme offers personal loans for business purposes, from £500 to £25,000 per individual over one to five years. The borrower is personally responsible for repayment; it is not a grant or a loan owed only by a limited company. A repayment estimate does not assess creditworthiness, affordability or business viability. To apply you must live in the UK, be 18 or over and have a UK business that has been fully trading for less than five years (60 months from 6 April 2026, up from 36 months). There is a credit check.
There is no scheme application or early repayment fee. This tool models the agreed monthly repayments without overpayments, arrears, payment holidays, multiple drawdowns or a settlement quotation. For a commercial startup loan with different rates or fees, use the separate UK business loan calculator.
For a loan outside this scheme, use the UK business loan calculator to model the quoted interest and fees.
Current 7.5% and legacy 6% agreements
The scheme rate changed from 6% to 7.5% for successful applications from 6 April 2026, and the rate is fixed for the life of the loan. If you applied and passed the credit check before that date you had 90 days to complete the application at 6%. A qualifying existing agreement keeps that fixed rate: selecting legacy here does not make 6% available to a new applicant. Check your loan documentation.
An additional tranche follows the rate of its original loan, subject to the scheme conditions. A second loan is a new application and can have a different rate. Calculate each loan separately; do not combine balances carrying different rates into one estimate. This is not a remaining-balance or early-settlement calculator.
How repayments are estimated
For loan amount P, number of monthly payments n and monthly rate r, the payment is P × r ÷ [1 − (1 + r)⁻ⁿ]. The monthly rate is the nominal annual percentage divided by 1,200. Payments are modelled at the end of equal monthly periods, with no setup fee.
Interest equals the unrounded monthly payment multiplied by the term, minus the original amount. Total repaid is principal plus interest. Money is rounded to pence only for display, so multiplying a displayed monthly amount may differ from the displayed total. Your agreement, payment dates and final instalment can produce small differences. The fixed annual interest figure is not labelled as APR.
Worked example: current scheme rate
For an original £10,000 loan at 7.5% over 60 months, the estimated monthly repayment is £200.38. Total interest is £2,022.77 and total repaid is £12,022.77.
At the same amount and rate over 36 months, the estimated payment is £311.06, total interest £1,198.24 and total repaid £11,198.24. The shorter term raises the monthly commitment while lowering interest. The comparison outputs use your entered amount and selected rate, rather than changing your chosen term.
Legacy and smaller-loan examples
For an original £10,000 agreement at the legacy 6% rate over 60 months, the estimate is £193.33 per month, £1,599.68 interest and £11,599.68 total repaid. This example is not a current-rate offer.
A £2,000 loan at the current 7.5% rate over 24 months gives an estimated £90.00 monthly repayment, £159.98 interest and £2,159.98 total repaid.
Paying extra each month
The scheme has no early repayment fee, so overpaying only saves interest. Enter an amount to add to every monthly repayment and the calculator shows how long the loan then takes, the time saved and the interest saved. The final repayment is whatever clears the balance.
On £10,000 at 7.5% over 60 months, an extra £100 a month clears the loan in 38 months, 22 months early, and saves £775.82 of interest. This is an estimate of regular overpayments, not a settlement figure; ask the lender for the exact balance.
Using the term comparison
The results show monthly payments and total interest for one, two, three, four and five years using the same original amount and selected rate. Compare the monthly commitment with your personal budget and business cash-flow forecast. A longer term usually reduces the instalment while increasing total interest.
The loan is not automatically affordable because it falls within the scheme limits. Consider personal living costs and periods when business income is below forecast. The final terms depend on the scheme assessment. No private financial details are sent in the URL.
Inputs for the UK Start Up Loan calculator
Loan amount per person
Enter the original amount for one individual in GBP, between £500 and £25,000. This is not the total funding for several partners or the remaining balance of an existing loan.
Repayment term
Enter a whole number from 12 to 60 months. Twelve months is one year. Use the full original agreement term; this tool does not reconstruct repayments already made.
Scheme interest rate
Use current 7.5% for the current scheme, or legacy 6% only where your loan agreement qualifies. This choice changes the calculation rate, not your legal agreement.
Extra paid each month
An overpayment added to every monthly repayment. Enter zero for none. The scheme has no early repayment fee.
CALCULATOR QUESTIONS
UK Start Up Loan calculator questions
Is this for the UK government-backed Start Up Loans scheme?
Yes. It uses the UK scheme amount and term limits, current 7.5% and qualifying legacy 6% rates. It does not model US startup finance or commercial loans with custom rates and fees.
Who can apply for a Start Up Loan?
You must live in the UK, be 18 or over and have a UK business fully trading for less than five years. The calculator does not check eligibility, which includes a credit check.
Can I choose 6% for a new Start Up Loan?
The legacy option is for an agreement that qualifies for the older fixed rate. New applications follow the rate applicable under the scheme rules. Selecting a rate here does not change eligibility or the rate on a loan offer.
Will my existing 6% loan move to 7.5%?
The scheme states that an existing loan retains its agreed fixed rate. A later second loan is a new application, while additional tranches follow the original loan rate subject to the tranche conditions.
Can I pay off a Start Up Loan early?
Yes. There is no early repayment fee, so extra payments only save interest. On £10,000 at 7.5% over 60 months, an extra £100 a month saves £775.82 and clears the loan 22 months early.
Are there setup or early repayment fees?
The UK scheme states there is no application or early repayment fee. The estimate includes ordinary monthly repayments only; ask your finance provider for the actual balance or settlement amount.
Does the calculator confirm that I can borrow?
No. It estimates repayments within the scheme limits. Approval also depends on the scheme assessment, including personal affordability, creditworthiness and business viability.
Why does the total differ from the monthly figure times the term?
The displayed monthly payment is rounded to pence. The total uses the full-precision payment before rounding. The lender may adjust the final instalment or use payment-date calculations.