Investment Companies

BusinessWoman

Hey all,

I applied for a loan/investment for my business and just did stage 3 or 4 today. Stage 4 is just the company ensuring that everything I have said is legit in terms on statistics and how well my business will do.

I have been told that the next stage will be the company deciding whether they will invest or loan me the money or a mixture of both.

They then said that they will have to do reference checks. This is a very small company helping underprivileged people under 30 start a business. A bit like the Princes Trust.

Does anyone know what type of reference checks they will do? I am slightly worried because I have 2 late payments on my credit file from the last 3 months (if a credit check is one of the checks they will do)

TIA

BigAunty

I can't answer your specific question but have you considered going through the Princes Trust as they mentor the self employed and help with financing? There may be other youth business charities, too.

BusinessWoman

heya, thanks for the response. Yes I have, I do have meeting next month with them but this is also a youth charity! I was just curious about what checks they would do and even if I went through the princes trust and got the funding, I am sure they would have to do checks too, they would just hand over money, so I was just keen to know if anyone knew what checks they do and if a credit check was one of them

InsideInsurance

You say you are like the Princes Trust, are you therefore a NPO or not? Is the process/organisation you are dealing with aimed at NPOs or not?

References could be credit, companies house, suppliers, clients etc but they should be able to tell you

BusinessWoman

They are a charity

BusinessWoman

InsideInsurance wrote: »

You say you are like the Princes Trust, are you therefore a NPO or not? Is the process/organisation you are dealing with aimed at NPOs or not?

References could be credit, companies house, suppliers, clients etc but they should be able to tell you

I didn't say I was a NPO. I meant the company that was helping me is a bit like the princes trust. They are a charity helping underpriveleadged people aged user 30 and unemployed start a business with either an investment or a loan.

InsideInsurance

My mistake, I thought you said your business was the one offering advice etc to under 30s.

The possible references are still the same though

BusinessWoman

oh okay well all the other checks should be fine then!!!!