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Surrey business owners benefit from £20m of Start Up Loans funding
2nd July 2026
Entrepreneurs in Surrey have received more than £20m in funding from the British Business Bank’s Start Up Loans programme since its launch in 2012. Latest figures show that Surrey-based business owners benefitted from more than 1,500 Start Up Loans.
Almost four in ten loans (39%) have been delivered to female business leaders, while 18% went to ethnic minority business owners – well above the representation of those groups among business owners*.
The highest number of loans went to Elmbridge (241), followed by Guildford (219) and Reigate & Banstead (203).
Adjusted for population size, Elmbridge came out as the most entrepreneurial local authority area in Surrey, with 170 loans per 100,000 residents. Tandridge was the second most entrepreneurial place (157 per 100,000), with Woking and Waverley tied on third (150 per 100,000).
Blair McDougall, Minister for Small Business and Economic Transformation, said: “Surrey is home to a thriving community of entrepreneurs and through Start Up Loans, we are ensuring they have access to the finance they need to reach their full potential.
“This is an impressive milestone for the programme, which has supported entrepreneurs across the region, boosting local businesses, job opportunities and the economy.”
Surrey business success
Silhouette Stills is an award-winning Epsom-based company with a craft distillery in Capel, Surrey, that is dedicated to crafting gin and moonshine in small batches. The company is owned by Phil Reed. Despite only starting up in 2025, the distillery has already received awards from The Gin Guide including two Golds and one bronze for its London dry gin, as well as New Distillery of the Year 2026.
Phil took out an initial Start Up Loan for £12,000 in April 2025 to help with setting up the business and then came back for a £5,000 second loan to support its further development.
Phil Reed said: “The financing from the Start Up Loans programme has been completely essential to helping get Silhouette Stills started. It’s because of the financing we’re in a position to produce our small batch moonshine, and to do so at the top quality we want for customers. We’re delighted to have won awards already as a young business and look forward to the future with confidence.”
Louise McCoy, Managing Director, Start Up Loans Products at the British Business Bank, commented: “We are delighted that Start Up Loans has been able to support Surrey business owners with £20m of financing, and are proud to support business owners with mentoring and other support as well. Having recently extended our eligibility we will in future be able to help even more people in Surrey set up or grow a business.”
The British Business Bank is expanding its geographically-focused initiatives to support entrepreneurs in accessing capital. This includes £350m allocated to two new Nations and Regions Investment Funds – in the South East and East of England – expanding targeted finance to every UK Nation and region outside London. These funds are due to go live in the second half of 2026.
Eligibility for a first Start Up Loan has been extended to businesses that have been trading for up to 60 months.
Find out more: https://www.startuploans.co.uk/
