Loan for Business

simon2010

Hi there

I am thinking of setting up a small business but would need about £6000 to set up.
I don't have the best credit rating, no defaults. Just about 4 'lates' in the last 12 months.

Any ideas who might be interested in taking me on???

Apples2

You have about 30 Payday loans on your file and late payments..

How on Earth do you think you are going to be in a position to repay ANY loan?
It was bad enough before but now you want to "go it alone" in business with zero income but feel you may be creditworthy.

simon2010

Thanks Apples........


I expected nothing less from you than one of your usual lectures. Are you a former bank manager or something????

For the record, yes I have had PDL's but always paid back on time. Nothing outstanding with them. I work full time and earn £2500 per month, and have been with the same employer for 6 years and lived in the same house for 12 years. I am not looking to 'go it alone', I am looking to earn more money on the side!!

Thanks for your 'non' advice apples.

Apples2

simon2010 wrote: »

Thanks for your 'non' advice apples.

You've been here long enough to already know the only sensible place is your own bank.

Little chance of business investments/loans as you have nothing to put in yourself, and £6k is a pittance.

simon2010

So you are a former bank manager then.....

poppasmurf_bewdley

simon2010 wrote: »

Thanks Apples........


I expected nothing less from you than one of your usual lectures. Are you a former bank manager or something????

For the record, yes I have had PDL's but always paid back on time. Nothing outstanding with them. I work full time and earn £2500 per month, and have been with the same employer for 6 years and lived in the same house for 12 years. I am not looking to 'go it alone', I am looking to earn more money on the side!!

Thanks for your 'non' advice apples.

PDL's on your credit file indicate to anyone looking that you can't manage on your monthly income so you're having to frequently 'top-up'. Equally, it's tells anyone looking that you are very bad at 'managing' your money.

How on earth can't someone on £2.5k a month manage? I have a lot less income than that but I manage to pay my way, have several holidays a year, pay my bills on time, have no debts and haven't seen any CCJ's since Mrs P disappeared from the scene to saddle some other poor sod.

Sorry, but what Apples2 says is correct.

simon2010

What a pointless post poppasmurf.

Why are you ranting that you cope on less when you have no knowledge of my income and expenditure or circumstances.

I was merely asking a question about business loans. If you don't want to comment on that why the hell post.

Apples2

simon2010 wrote: »

So you are a former bank manager then.....

Never worked in any Financial sector

poppasmurf_bewdley wrote: »

have no debts and haven't seen any CCJ's since Mrs P disappeared from the scene to saddle some other poor sod.

You echo my struggle smurf. Climbed out of all sorts of debt mess on Divorce and now have no worries. There is a common factor!!!

poppasmurf_bewdley

simon2010 wrote: »

What a pointless post poppasmurf.

Why are you ranting that you cope on less when you have no knowledge of my income and expenditure or circumstances.

I was merely asking a question about business loans. If you don't want to comment on that why the hell post.

Because you are on a good salary yet you cannot manage. Now you want to expand but only by 'borrowing' because you evidently don't have the ability or self control to save up a paltry £6k.

How on earth are you going to manage when you 'hope' to be working in your job full-time plus running a business as well?

Up in Manchester there used to be an expression "You'll find yourself on Queer Street" which meant you'll find yourself in a financial pickle, and that's where you're heading.

Just because some Posters have given you information you don't like, don't go around complaining.

simon2010

Another pointless rant, that doesn't answer the question, just merely says that one should be coping on 2.5k per month without any knowledge of circumstances.

Emmzi

I Am a former bank manager, and can tell you straight that with no security, no bank will want to put up more of a stake in your business than you have at risk yourself.

You appear to have £0, so that would be the starting point for your loan.

Get saving!