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Would it be possible to get a business loan
I started my business 2 years ago and have reached the point where i would like to get bigger.I am 25 in the car trade and have my own premises.I was thinking of approaching my bank about a business loan but with the current climate and money i was after £100,000 i dont think this would be possible.I noticed on my banks website that they are offering loans from the European investment bank and another loan scheme that is being backed by the goverment to secure loans for small business's.What would be my best option are where could i look for a loan at the right price so i could grow my business.
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Comments
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£100k is a big loan,what security do you have to offer?have you spoken to you bank?0
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You will need 3 years audited accounts, a business plan, security and possibly 50 % deposit.0
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I have not spoken to my bank yet.for security i have my own premises which i put a lot of my money into workshop,offices,equipment,parking etc everything is their its just keeping stock level up that i find hard.0
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