Published: June 13th, 2025
Entrepreneurs across Herefordshire, Shropshire and Telford & Wrekin have new opportunities to access start-up funding following a major milestone announcement from the British Business Bank.
The bank’s Start Up Loans programme has now provided over £100 million in funding across the West Midlands region since launching in 2012, supporting more than 10,000 entrepreneurs with an average loan of nearly £10,000.
The programme has demonstrated particular success in supporting underrepresented groups, with one in four loans going to founders from ethnic minorities and over 39 per cent distributed to female business owners. Young entrepreneurs have also benefited significantly, with 17 per cent of borrowers aged 18-24.
Laura Suominen, founder of Ikigai in Leamington Spa, secured a £12,000 loan through business support partner BizBritain in early 2024 to develop her website and expand inventory for her Japanese homeware business.
“The Start Up Loans programme has been a huge help in growing the business,” said Suominen, who was named as a regional ambassador in late 2024. “It has meant that we’ve got the business to a place that we wouldn’t have otherwise been able to do so.”
The programme offers first loans to businesses trading for three years or less and second loans to those trading for up to five years, with amounts ranging from £500 to £25,000. Support is delivered through business support partners including BizBritain and First Enterprise.
Louise McCoy, managing director of start up loans products at the British Business Bank, said: “The West Midlands is a region with a clear appetite for entrepreneurship and innovation, so we are proud to say that the Start Up Loans programme has now supported founders with £100m in funding since its inception in 2012.”
Marches-based entrepreneurs interested in exploring Start Up Loans can contact the Marches Growth Hub to find out more.
