Loans for starting up your own company?

chrisuren

Looking to get into Self Employed work (properly, have done quite a lot without telling anyone) but want to get some investment so I can set myself up as a legitimate company (Sole Trader)

The money would be used for a van and advertising and tools, looking at no more than £10,000.

Where's best to go?

bigadaj

Your own bank might be best as they have experience of you, however most will expect some money from you and a business plan showing how you'll be repaying.

Are you currently employed, if not there might be some government grants?

Not sure there's many options though currently, sorry.

opinions4u

How much are you putting in yourself?

27col

You cannot expect a lender to put their money at risk on your business venture, unless you are prepared to do the same. You have not said whether you are proposing to invest some of your own money.

Good_Goose

To set up a business and borrow money you need a minimum 50%. So you would need to put up £10000 yourself and a decent business plan.

No lender will be willing to lend over 50% as they expect you to take on at least as much risk as them.