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Jobcentre Plus in partnership with Department for Work and Pensions Business Enterprise Group

New Enterprise Allowance Loans

Get a loan for your start-up business, through the New Enterprise Allowance (NEA) scheme.

The loan is available to Jobseekers Allowance (JSA) claimants who have started a business through the New Enterprise Allowance pre-trading mentoring scheme.

Eligibility details

To access this funding you should:

  • Have completed the New Enterprise Allowance mentoring scheme;
  • Be based in London, Bedfordshire, Hertfordshire, Essex, Kent, Scotland or Wales; and
  • Have an NEA approved business plan, including a cash flow forecast and a personal survival budget.

Loan details

Up to £2,500 is available, depending on your eligibility, to fund:

  • Marketing;
  • Purchasing equipment; or
  • Vehicles, if this is an integral part of your business.

The loan cannot fund:

  • Vehicles (unless they are an integral part of your business);
  • Trips abroad (including conferences);
  • Some forms of training (unless this is considered operationally necessary);
  • Research or product development;
  • Training or studying costs, although some forms of training that are legally required for a business to operate, such as health and safety training, may be eligible;
  • The repayment of existing debt;
  • Political activity;
  • Any activity which may bring the fund into disrepute.


The key features of the loan

Amount Available : up to £2,500, depending on your eligiblity. The minimum amount you may borrow is £500.

Term : the loan may be repaid over 3 years.

Interest rate : The loan's interest rate is 6-9% , depending on your eligiblity.

Fees: There are no fees payable for this loan at any time.

Early Settlement : the loan can be repaid in full, or in part, at any time during the repayment period.

An interest only period of up to 12 months is available depending on your business’s needs. If a 12 month interest only period is required:

  • Capital and interest payments will begin in year 2.
  • Full loan repayments, including capital, will start in month 13, and continue until the loan is fully repaid.
  • Loan repayments will always be collected by direct debit.

For more information

For more information on the New Enterprise Allowance Loan Scheme telephone 084 5241 4485 or visit to submit an online application.

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