Very urgent help needed.

BillStirling

Urgent help needed! I know this is very late in the day, it’s embarrassing, and makes me look financially disorganised, but here goes. I’m a one-man business photographer with a large studio in East London, and have been working in this field for 30 years. Due to poor business I’ve let my rent go unpaid for too long and the landlords want me out by Wednesday 30th November unless I find about £5000 to £8000. I’ve spent the last three weeks organising loans but didn’t leave enough time to complete the paperwork etc, associated with them and now I find that they most probably won’t be ready by the 30th. Its all taken longer than I thought, and I’ve left everything to the last minute. I’m a hard worker and put in 100 hours every week working nights on a second job, but I’ve messed up here. The studio could earn more money than its bringing in at present. I just need to promote it more. The turnover has been improving over the last three months.

Where can I get bridging finance for maybe ten or 14 days while the loans are finalised? My bank is not interested. Are there any individuals out there who would be prepared to look at this very urgent problem that I’ve created? I can offer equipment as security and would be willing to produce photographic work free to the value of any charge that would be made for this service, if that kind of work would be required. Or I could just pay a fee.

Without some help, I’ll lose the studio, and a place to sleep as I live there at the moment.

wigginsmum

If the loans have been agreed at least in principle, can you show a copy of the paperwork to the landlords and ask for an extension?

Jules

meanmachine_2

Can't you just whack it on a credit card? My credit limit is something ridiculous like 9K.

And no, that's not an offer, before you ask.

southernscouser

Hi Bill,

First things first, I would suggest you remove your email address from your post. This is only because sometimes you get spammers on here and you don't want them getting hold of it mate! :rolleyes:

Entrepreneur_en_faillite

BillStirling wrote:

Where can I get bridging finance for maybe ten or 14 days while the loans are finalised?

Bridging finance is only available when secured on a property, and then usually at a truly extortionate rate of interest. I have to say, although credit card borrowing is very expensive way to get cash, I have to agree with meanmachine, can't you hammer the plastic until the loan comes through?

black-saturn

What kind of photography do you do? I have some good publicity ideas to bring in more business depending on what you do (and no its nothing to do with glamour or !!!!!!).

Entrepreneur_en_faillite

BillStirling wrote:

I’m a hard worker and put in 100 hours every week working nights on a second job, but I’ve messed up here. The studio could earn more money than its bringing in at present. I just need to promote it more.

Might it be worth spending more time developing your core business rather than diversifying into a second job. The drop in income may well cause a problem but surely 100% into your main business will reap rewards?

Kimberley

For goodness sake take off your mobile and phone numbers :eek:

BillStirling

I'll try showing the paperwork to the landlord's agent but they are adamant about an extention. The agent won't allow access to the landlords.

BillStirling

Sadly the credit cards are low value and up to their limits long ago.

BillStirling

You're right, 'ENTREPRENEUR', I'm giving up the second job shortly as it pays badly and eats into the daytime too much, thereby reducing the time spent on the core job.