Government's start-up loans scheme extended The Prime Minister said funding for the Start-Up Loans scheme is being boosted by £30m to £110m over the next three years. The age limit for applicants has also been raised from 24 to 30. The Government said the move was a response to strong demand but critics suggested the extension is an effort to kick-start the initiative following a slow start. The scheme provides loans of around £2,500 and business advice to young entrepreneurs. Since it launched last autumn, just 460 businesses have been funded, following applications from 3,000 people. The Government said 2,500 loans will have been issued by March. Mr Cameron said: "Start-up loans are a great way to help this next generation of entrepreneurs get the financial help - and the confidence - to turn that spark of an idea into a growing, thriving business." However, Malcolm Evans, an investor in start-ups, said the scheme is "badly thought out" and supports a "dangerous idea that there's a business in everyone. There isn't. Playing a game of 'let's all be entrepreneurs" does not address the terribly serious social issue of the shortfall in good jobs."