business loans pt 2 and diplomas

lee8040

we want to enquire for a business loan soon. I was reading through some home learning stuff and noticed a start your own business diploma course. Would something like that look good to the bank when i apply for a business loan knowing that i have looked into it and have a slight knowledge about starting the business up from the course, or would they not even care about it?

lee8040

anyone please ?


thanks

lee8040

im not sure wether to do one now, or not if it wont help

immy

the course would probably be a waste of time. approach a 2nd choice bank, and see what they say. take constructive criticism and advance from there with ur first choice

Emmzi

Lee,

what sort of business, and what area are you in?

Do you have someone to help you do a business plan, cashflow forecast, all the stuff the bank will look for?

Experience usually wins out over qualifications in impressing the bank manager. Have you ever worked in te line you're thinking of starting up in?

lee8040

my girlfriend has done the job for her whole life she has quite a few qualifications and training skills to do it so she knows what it takes to run that side of the business. I have worked in the office side of things before like wages, vat tax etc so have a small amount of knowledge of that part. im afraid i dont have any help for the business loan, just me and her

Emmzi

that's why I asked what area so I could find out your local small business adviser - usually there's a free enterprise trust service run by the council.

you don't seem to wannt to tell us what business it is, and that's fine, but it will make giving advice difficult! businesses have very different start up costs.

Emmzi

For example these guys give free advice and also know aboutr start up grants, seed capital, etc

http://www.mcet.org.uk/

lee8040

na i dont mind giving out what were doing. Its a childrens nursery

lee8040

lee8040 wrote: »

na i dont mind giving out what were doing. Its a childrens nursery

the area we are in is essex

Emmzi

That's a great business! Hope you have lots of patience, energy and wet wipes!!!

I would suggest contacting Essex Business Link, who can help you get everything in order not only for your bank, but also things like background checks etc required to work with kids, insurance, etc etc.

http://www.essexcc.gov.uk/vip8/ecc/ECCWebsite/dis/gui.jsp?channelOid=14008&guideOid=14020

tells you the kind of service they provide.

They will also know if any start up grants are available in your area.

Unhelpfully they don't have a contact point listed but this page does..

http://www.businesslink.gov.uk/bdotg/action/directory?r.s=h

That second link also has a searchable start up grants directory, and case studies from people who have started their own business.