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The overall cost for comparison is 11.6% APR. The rate is variable and based on a usual case, including a broker fee of £2,000 and other fees of £1,330. A valuation fee will be payable. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.
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Business loan for young entrepreneurs
Reported on Tue, 14 Mar 2006
Demand for taking out a business loan could be set to boom, with an increased number of young people looking to go into self-employment.
A poll of 1,000 young people aged between 16 and 21 by specialist lender UCB Home Loans reveals that 56 per cent would like to run their own company: by far the largest single category of preferred career.
This would represent a dramatic change to the UK's economic landscape, with only 13 per cent of the adult working population currently self-employed.
However, those young adults who declared their choice expressed high hopes of success, with 31 per cent believing they have it in themselves to be millionaires.
The number of small businesses in the UK is certainly on the increase, with 4.3 million currently in operation, an advance of 500,000 on the figure from 1998.
Young adults thinking of developing their entrepreneurial skills could consider taking out a low-rate business loan to help themselves get established in the market.
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