Question

To ask the Secretary of State for Business, Innovation and Skills, what criteria his Department uses to determine who receives Start-Up Loans; and what processes are in place to ensure that people with mental health problems have their applications considered fairly.

The Start-Up Loans programme provides loans and mentoring support to enable entrepreneurs aged 18 and over from all parts of society and based in the UK to start a business. So far, over 34,300 entrepreneurs have received support from the programme, which in turn has facilitated over £187 million worth of lending to date.

The programme operates through a network of Delivery Partners, who make individual lending decisions based on criteria set by the Start-Up Loans Company. Delivery Partners are required to be authorised by the Financial Conduct Authority. A condition of this authorisation is that they adhere to the FCA’s Treating Customers Fairly principles, which include reference to the treatment of customers with mental health issues.

A full list of principles is available on the FCA’s website