Apply loans ques?

Bernard_Coleslaw

There are no hard and fast rules. For a £25k loan I wouldn't be surprised if some lenders wanted to see some proof of income. Some will, some will not. It wouldn't surprise me at all if some of those lenders that don't need much in the way of proof are way more expensive (as they're operating at the risky end of the market).

You should never use speed of payment as your main criteria for choosing a lender - you have to live with the interest rate!

Not being deliberately awkward, but the fact is that all lenders will operate different underwriting procedures.

BC

regularsaver1

I'd say go via the business banking route - because i'd doubt you'd get the 4 , in the way you want it

your personal income would need to afford each one - and the commitment of the others

Bernard_Coleslaw

regularsaver1 wrote:

I'd say go via the business banking route - because i'd doubt you'd get the 4 , in the way you want it

your personal income would need to afford each one - and the commitment of the others

Have to say I agree with regularsaver1 on this one - although the original poster does seem determined to somehow get 4 maximum unsecured loans at the same time from 4 different lenders, I just can't see it happening! :rolleyes:

BC

Rafter

Very few lenders will give you a personal unsecured loan for starting your own business.

If you claim on the application that you need the money for something else, you will technically be committing application fraud.

This is really not the way to start a new business, you need to look at your business plan and work out how to start slower with less capital.

If this really is a low risk venture then you might find a business bank prepared to lend you something, particularly if you need the money to buy something that you could lease (vehicles for example).

R.

bery_451

Rafter wrote:

Very few lenders will give you a personal unsecured loan for starting your own business.

If you claim on the application that you need the money for something else, you will technically be committing application fraud.

This is really not the way to start a new business, you need to look at your business plan and work out how to start slower with less capital.

If this really is a low risk venture then you might find a business bank prepared to lend you something, particularly if you need the money to buy something that you could lease (vehicles for example).

R.

whats the maximum i can get for a business loan?