Business Banking 'ReStart' issue(s)

druis

This last few months has been difficult for my small company which I own.

Changes in the business sector I work in dried up the demand.

Months back it ended up my small company owed me money. I took out a personal loan to cover the costs to my own company.

The bank that had both my personal and company banking closed me down because their parent company became a tough act and seeking improved revenues. They saw that there may be considerable time before they could get all this money back from personal account. Other damage they did was to close any way that moneys could be subsequently paid in to the company account. Company account had no debt.

Now have a problem where I will be seeing revenue flows coming to my company but nowhere to deposit funds. Sort of good news and a bit of bad all wrapped in 1 problem.

The re-focus of my company leaves me with a problem how customers pay my company so it doesnt get the moineys and not able to pay me.

I am after a no frills where a bank would take me on board and then realise im a good guy with a newly energised company but how do i jump this current hurdle?

Any advise appreciated :-)
D

druis

to continue..

if client not able to pay my company i cannot then pay myself. If I pay myself then there is a potential to pay off the personal debt with the old bank I mentioned in some months and im back up and running. I wouldnt even contemplate going back to the old bank as they sort of screwed me!.

How would I sort of phrase this to a potential bank so i can be precise.

Has anyone come across a listening bank who (through personal experience) know how to help someone get back mainstream.

There may be ways to pay in to a credit card for company where i dont need credit but somehow a way to pay moneys in at least. Of course my company would then be sort of crediting funds to the credit card company and reverse to the norm. I am confident that once this legacy blip all cleared then most banks would want to offer me a business account. Any ideas ref this paragraph?.

Any good web reading ref this etc etc?
D

patwa_2

Forgive me if I've got this completely wrong and am barking up the wrong tree but...

As I understand it you now do not have a relationship with a bank whereby you can deposit funds.

You have taken out a personal loan but are unable to pay money into the bank to start to repay that loan.

Customers will not be able to pay into a channel where money can be stored.

So, and again apologies for any mis-understanding on my part, why couldn't you open another account for your company with another bank, have your company funds paid into that account and then when you are able to pay the loan provider either via bank transfer directly to the provider or via cheque?

Reading this back it doesn't seem to match your question but I'll post anyway as it might just jog something that may help.

Cheers and take care.

Hussein.