PODCAST: Shaun Fooy on business banking and start-up loans
Finance & Funding
Key learnings
- The British Business Bank is a government-owned business development bank dedicated to making finance markets work better for smaller businesses.
- A start-up loan is one of the best ways to get your new business off the ground quickly, but make sure you check the terms and conditions first.
In this UMi podcast, we speak to finance expert Shaun Fooy. Shaun is a Network Manager at the British Business Bank and has 30 years’ experience in business banking, having worked at major high street banks including Barclays, RBS and NatWest. The British Business Bank is responsible for delivering government-backed loans and it also runs a number of programmes for start-ups and SMEs and provides advice and mentoring opportunities for UK founders taking their first steps in business. Here, Shaun reflects on the work of the bank and reveals how it could help you on your business journey.
Listen below to find out more from Shaun about:
- How the British Business Bank has been helping business since 2016.
- The role it played in supporting businesses throughout the COVID pandemic.
- The importance of early-stage funding for sectors such as life sciences and high tech companies as they work towards proof of concept of their innovative ideas.
- The changing funding landscape and changing perceptions.
- Top tips for securing funding, particularly if you're starting a new business.
Next steps...
- Take a look at the Start Up Loans website where new business owners can borrow up to £25,000 at a fixed interest rate of 6% over a repayment term of 1 to 5 years.
- For information on other forms of funding, check out our article Understanding the different types of business finance.
- Use our free downloadable template to write up your business plan.
Published 12 November, 2021.