British Asians ‘least likely to receive Start Up loans’

British Asians ‘least likely to receive Start Up loans’

From 2014-2018, people from black and mixed ethnic groups were much more likely to receive the Start-Up Loan than those from other ethnic groups, while people of Asian origin were the least likely to have their application accepted.

Under the scheme, individuals can apply for between £500 and £25,000 with a fixed interest rate of six per cent per year and 12 months of free mentoring. The amount must be repaid in full over one to five years.