The government-backed programme, has delivered 9,581 loans with a total value of £101.5 million since its inception in 2012. Of these, 766 loans amounting to more than £10 million were drawn down in the last 12 months, signifying an entrepreneurial spirit across the region despite a difficult economic backdrop.

Of the total 9,581 loans delivered in the East of England, 40% were taken out by female founders and 17% were from Black, Asian and Other Ethnic Minority backgrounds (not including White Minorities). Young people between 18-24 years old received 12% of the loans, and 13% of founders were aged 50 or over.

The Start Up Loans programme is committed to lending to founders that may otherwise face difficulty in accessing finance. Since 2012, nearly a quarter (23%) of loans in the East of England have gone to founders that are unemployed, with this rising to over a quarter (27%) for Gen-Z founders who aren’t in employment or education.

The one-hundred-millionth pound of funding was taken out by Tammy Walker, founder of Blissful Beauty Bus By Tammy. With the support of a £3,500 loan, Tammy transformed a Sprinter van into Norfolk’s only luxury mobile beauty salon, bringing professional treatments and pamper parties directly to people’s doorsteps.

Tammy Walker, founder of Blissful Beauty Bus By Tammy, said: “As a mobile beauty therapist, I wanted to create something completely different – a salon on wheels that means people can enjoy treatments without the stress of travelling. Blissful Beauty Bus is currently the only business of its kind in Norfolk, and it gives me the chance to attend events, host pamper parties, and also support people who can’t easily leave their homes. The loan helped me turn the van into a fully equipped salon, and the mentoring gave me the confidence and guidance to make my vision a reality.”

Another example of a business in the region which has benefitted from Start Up Loans financing and support is Hippy Hut Pottery. The owner Cally James became an Ambassador for Start Up Loans in 2024.

Hippy Hut Pottery hosts intimate workshops and hands-on classes for up to eight people, at a bespoke studio in Bury St Edmunds. Beyond the studio, business owner Cally has scaled up the offer and now brings the art of pottery to life at corporate events across the UK, giving companies the chance to bring employees together to collaborate in creative ways away from their desks. The business was launched using a loan of £14,000 with support from BizBritain, which Cally used to purchase a new kiln and additional equipment to help her keep up with increasing demand for her workshops.

Louise McCoy, Managing Director of Start Up Loans Products commented: “I am thrilled to celebrate the milestone of £100 million being delivered to founders in the East of England, supporting nearly 10,000 entrepreneurs across a host of sectors. This achievement highlights the strong entrepreneurial nature of the East of England and businesses like Tammy’s and Cally’s are a great example of using a loan to diversify your business and offer something unique.

“The businesses we’re supporting are often very early stage, as the average loan size of just over £10,500 shows, which is an area of the market that is often underserved and quite frankly under-supported. And this is why it’s so important that Start Up Loans is there helping micro-businesses to start up and grow. With the programme set to expand further we’re expecting to be able to help even more businesses in the East of England in the future.”

The government’s recent Backing Your Business Plan announced that the Start Up Loans programme has been expanded and will provide more than £1bn of additional lending to entrepreneurs. The programme is being scaled up to provide 69,000 loans over the next Spending Review period, with an expected increase in average loan size from £12,000 to £15,000. Based on Bank estimates, the expansion of the programme could contribute approximately £1.3 billion in additional economic output, generate an additional £3.1 billion of turnover and create an additional 12,600 jobs over the life of the finance.

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