GC Business Finance has channelled more than £24 million into fledgling UK businesses over the past year through the British Business Bank’s Start Up Loans programme.
As both a national and regional delivery partner, the Manchester-based lender provided 2,127 Start Up Loans during the 2024/25 financial year. The finance was disbursed across a broad range of sectors and regions, with notable uptake outside the North West in the South East (11.7% of the total), London (10.8%), the East of England (7%) and the South West (6.6%).
Around 40% of recipients were female entrepreneurs, while 21% identified as coming from ethnic minority backgrounds, underlining the programme’s continued focus on supporting underrepresented founders.
Among the businesses backed was café and bar Something More Productive, founded by Theo Tobias in Manchester in 2023, which secured £25,000 to fund equipment and initial setup. Other examples include Berkshire-based Ace Places Playing Cards, which raised over £16,000 to develop a franchise model, and Phoenix Sounds in Devon, which used a £5,000 loan to invest in brand development and online sales infrastructure.
Alex Mearns, head of startup lending at GC Business Finance, said the funding reflected the vital contribution of start-ups to the national economy. “Start-up businesses are the backbone of the UK economy, and I’m incredibly proud of the GCBF team for the crucial role we’ve played in supporting them,” he said.
“We remain committed to supporting a diverse range of founders, so it’s amazing that we have supported so many female and ethnic minority-founded businesses. The work of our team is helping to make funding more accessible to all, regardless of their background or location.”
The Start Up Loans programme is designed to help early-stage businesses which may be excluded from mainstream finance. Loans of between £500 and £25,000 are available, alongside ongoing mentoring and advice. As well as delivering loans directly, GC Business Finance also acts as a Finance Partner, supporting other regional and national partners across the UK.
Louise McCoy, managing director of Start Up Loans Products at the British Business Bank, welcomed the latest figures. “It’s amazing to see that the GCBF team has provided over £24m to start up businesses across the UK the last financial year,” she said. “This funding is helping the small business ecosystem thrive, giving UK entrepreneurs the confidence and support to grow their businesses.”
The British Business Bank’s Start Up Loans scheme has supported over 100,000 businesses nationwide since its inception in 2012.
