GC Business Finance powers UK start ups with over £24m in Start Up Loan funding
GC Business Finance (GCBF), a Business Support Partner for the British Business Bank’s Start Up Loans (SUL) programme, has injected over £24m in SUL funding into smaller businesses across the UK during the 2024/25 financial year. With 2,127 Start-Up Loans delivered by GCBF, the funding has supported businesses across a wide range of sectors.
Operating as both a regional delivery partner for the North West and a national partner, GCBF has helped businesses throughout the whole of the UK access vital funding. Beyond the North West, the South East received the highest proportion of funding via GCBF at 11.7% of the total, followed by London (10.8%), the East of England (7%), and the South West (6.6%).
Of all the loans provided, 40% went to female-founded businesses and 21% went to founders from ethnic minority backgrounds, highlighting GCBF’s and Start Up Loans’ commitment to supporting underrepresented founders.
Smaller businesses supported by GCBF include Manchester-based café and bar, Something More Productive. Founded by Theo Tobias in 2023, he secured a £25k Start Up Loan to get his business off the ground and purchase essential equipment.
Other businesses include Berkshire-based Ace Places Playing Cards, which secured over £16k to launch its franchising model, and Devon-based Phoenix Sounds which secured £5,000 to update its branding, website and online sales provision.
The SUL programme caters to the needs of new and growing businesses that often face challenges securing funding through traditional routes, and empowers business owners with the confidence they need to reach their full potential.
GCBF provides tailored funding and advice as a Business Support Partner and is also a Finance Partner for the programme, where it supports all other regional, national and specialist Business Support Partners across the UK. It plays a vital role in providing entrepreneurs with the support they need to start and scale their businesses, offering funding from £500 to £25k alongside bespoke support and advice.
Alex Mearns, head of startup lending at GC Business Finance, said:“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. Over the past year, we’ve delivered over £24m in Start Up Loan funding, helping thousands of entrepreneurs start or grow their business.
“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. As we look ahead, I’m excited to continue supporting ambitious businesses, fuelling innovation and growth across the UK.”
Lousie McCoy, managing director, Start Up Loans Products at British Business Bank said: “It’s amazing to see that the GCBF team has provided over £24m to start up businesses across the UK the last financial year. This funding is helping the small business ecosystem thrive, giving UK entrepreneurs the confidence and support to grow their businesses. Targeted funding initiatives like the Start Up Loans programme play a vital role in giving people equal opportunities to grow and scale up their business, so I’m excited to help even more ambitious entrepreneurs over the next year.”