The British Business Bank’s Start Up Loans programme has reached a milestone, having delivered £150m in loans across the Midlands.

Since 2012, the programme has provided almost 9,500 loans to entrepreneurs within the West Midlands and over 6,000 loans to entrepreneurs in the East Midlands.

Nationwide, Start Up Loans have surpassed £1bn in loans. This initiative supports new business owners across the UK, especially those who struggle to access traditional financing.

The West Midlands received a total of 9,474 loans, worth more than £91m. 3,700 loans were to female-founded businesses worth over £33m and more than 1,100 loans were provided to firms founded by ethnic minority groups, equating to over £14m.

In the East Midlands, £62m in loans has been distributed, with Nottinghamshire receiving the largest share, with 1,616 loans totalling over £15 million.

Lincolnshire followed with 1,576 loans worth £14.9m. The programme has also notably supported female entrepreneurs, with over 2,600 loans amounting to more than £23m, and ethnic minority-owned businesses, which received over £6m.

A story from the region is Moko Physiotherapy in Derbyshire. Founded in February 2023, Moko Physiotherapy secured £30,000 from the Start-Up Loans programme to renovate its new location.

It led to an expansion in March 2024, doubling its space and adding new facilities. Katie Ogley, the founder, attributes part of this success to the support and funding from the Start-Up Loans programme.

Katie Ogley, founder and director of Moko Physiotherapy, said: “Having been open for only 18 months, we are a thriving business and that is in part due to the start-up loan and support we received from the British Business Bank and First Enterprise.

“The Midlands and in particular the East Midlands is a place that can get overlooked but programmes such as Start Up Loans show there are a lot of exciting business and individuals making big changes. As a result, we have the support to be able to show this. I am excited for where Moko can now be taken in the future – we are young but thriving, making a life-changing impact on many people’s lives – this is just the start of our journey.”

Richard Bearman, managing director of Small Business Lending at the British Business Bank, said: “What we have been able to deliver businesses in the Midlands is a testament to the great work and partnerships that take place across the region and wider – from the smaller businesses with the great business ideas to the Business Support Partners who can offer wonderful support to the right individuals and ideas.”