National contract for North West Start Up Loans provider

Greater Manchester-based GC Business Finance has been appointed as a national Business Support Partner for the government’s Start Up Loans scheme.

GCBF has been providing Start Up Loans to entrepreneurs in the North West for the past decade, and has announced it has created 13 new roles to expand its offer nationally. 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.

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, with 550 new Stockport businesses having benefited from the funding since the scheme launched.

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.”

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.