Business Loan Advice

MrsHilton_2

Hi All,

I have recently started my own business. I am a dual qualified Nurse/Midwife and have stepped away from the NHS to offer private antenatal education, baby massage classes, breastfeeding advice, postnatal support and infant first aid classes.

I am in desperate need to some further funds. I have set of the majority of the business off my own back by saving and working hard, however I want in invest in a franchise for a specialist type of birthing class which is going to cost me 2,500.

I have not applied for any loans etc yet, my main issue being that years ago I got a CCJ slapped against me by Severn Trent for a house I didn't even live in anymore.

Does anyone have any advice or suggestions for funding, I should be able to pay it back relatively quickly.

Any advice appreciated.

ukbill69

A CCJ is not going to get you anywhere. No bank will touch you unless you pay back the CCJ and your credit file is in a good understanding and you keep up payments.

I would say only way would be to get funding is going into personal overdrafts etc. I would suggest getting a business account open and get money etc going in there, then you can prove to the bank you have a good business model.

paulwf

Have you spoken to the franchisor about the possibility of spreading the set up costs?

Probably for now the best thing for now is to have a big promo push to bring in more clients, reduce the amount of money you take out of the business to a minimum and build up some funds to cover the franchise fee. Could you also do some bank work for the NHS to bring in some more money?