Help me with my loan costs!

freedes

Not sure I'm in the right thread (or the right webside) but anyway...I study business plan and we have to make a businessplan (as with budgets, ideas and all that sh*t)...
Now we are stuck....This needs to be presented on tuesday and our budget is fu**ed...

It is really easy but we have just gone completely blind and our brains just won't budge..

We have taken a loan of 1.000.000 SEK (since the business in Sweden) (which is approx £87.000)
Establishing cost is 2% which makes 20.000SEK, handling fee is 600SEK.
Loan and cost makes 1.026000SEK.

Interest is 8.5% and the monthly pay makes 20.900SEK over 60 months (ish)
Theese are the numbers the bank gave us as an example but he made sure that the numbers are real..

Can anyone explain it for me...?

We are now making a liquidity budget and need to know what numbers to put where. As I said we have gone blind, cant see any reason whatsoever in the numbers...

Please help me if you can.. Maybe someone here works in a bank or another place that loans money. (not the mob) and can make some things make sence to us...

Frozenace

Hi freedes,

You mean you are doing Business Studies, but you need to make a business plan.

1) Noone takes a loan without a business plan, the bank won't lend it to you unless you have securities, like a house etc.

2) Go to your bank's web site and go to the loan calculator thing, or google interest calculator of sorts (don't forget the arrangement fee).

3) check out this web site: it's a short guide by the BBC on how to do a business plan

http://news.bbc.co.uk/1/hi/business/2943252.stm

freedes

Hardly english class, but thanks for correcting me.

Oh, we already have the loan we just need to write the right numbers in the budget.
Do I write 20900SEK on every month?
Is that all I pay to get the loan and to eventually pay back the money I borrowed?

What is interest really? The money I pay every month 20900 is this case, is that the interest and the money I pay off on the loan...

chalkie99

freedes wrote: »

all that sh*t)...

budget is fu**ed...

Forget the Business Studies and transfer to a course in etiquette - what sort of a way do you think that is to ask for help in your first ever post?

freedes

How has my language choice any relevancy with my business studies..??

There might be a reason why I decided to put *** instead of the actual letters. I'm not here to make friends and I certainly don't need to take bulls**t from you. Have I ever been rude to you? No, so you have no right whatsoever to state that I need etiquette studies.

I came here thinking there might be people good in finances and the things I need help with, not thinking there was gonna people who judge people by the way they write.
Did I in anyway offend you by choosing my words the way I did?

No, so please let the people who might want to help, help me.

chalkie99

freedes wrote: »

Did I in anyway offend you by choosing my words the way I did?

Yes - so don't try answering your own questions.

When you grow up you might find that a little politeness will bring you more rewards than your present arrogant attitude.

Frozenace

If the bank tells you to pay 20900 SEK a month for 60 installment, that means the interest will already have been calculated into that figure

20900 x 60 = 1.254 million SEK.

so over the 5 years, you pay them 250k for the privilige to borrow money, that's interest.

However, if the base rate goes up or you default on the loan, the costs can go up by a lot.

Also, if you want to get people to answer your questions, I'd advise you to pay a bit more respect.

I used to work for a Swedish company EF Education and Swedish people can be a bit up tight, if you want to defend yourself, fine.

freedes

Please explain to me how I offended you by choosing my words the way I did!
Aren't you taking my thread a little personal now. I mean, I didn't attention the "letter" to you did I?

Grow up? Yii, how old are you? I'm fully grown thank you very much with 2 children and been married for 16 years but OK, if that is your opinion.
Only a person who actually needs to grow up would choose the argument "grow up"..

freedes

And secondly, you didn't have to read my thread at all. I didn't make you!

freedes

Thank you very much "frozenance". I appreciate your answer. I think we understand it a bit better.

I am swedish, born, raised and lived here all my life expect for three years when I worked as I bartender in Leeds.
Though it was 20 years ago I must defend myself and my country by saying that there are many other countries that are way more "up tight" then swedish people. Though we are a bit wierd.

I didn't realize I was being disrespectful and appreciate that you told me. Especially the way you told me.
The disagreement I had with "chalkie99" was origined from that he was respectless to me by going personal immediatly when I hadn't done him anything at all. There is no reason for that..
My wife always says " don't go personal until the other person has" and that is all I have to say.

Thank you.

Frozenace

You're welcome.

I used to study at an international school and had to deal with all kinds of nationalities and personalities and stuff... a diplomatic way usually works, although sometimes people can make you really angry.

Best to let it go sometimes, my girlfriend tells me.

Have a nice evening anyway and good luck with your proposal or presentation.