Loan for business?

tiffy2014

Hi I am new to this forum and would like to get an advice with regards to loan. I have a wholesale business for over 2 years and is making a good profit an is now in need of growing. As I was personally declared bankrupted and discharged 4 years ago I am facing problems with finance through my bank. Is there any governmental support for small business fund or any other way I could borrow that is really essential and urgent for my business? Thanks a lot

Tixy

Having been bankrupt in the last 6years will likely make it much harder for you to borrow.

How much are you looking to borrow and what is the money needed for
This would affect whether there could be any grants available to you for example or alternative ways to fund (e.g. if it is for new assets have you looked in to whether you could buy them on asset finance - which is lower risk for the lender).

Do you have any personal assets now? e.g. are you a homeowner?

CKhalvashi

Ask the bank whether they'd consider it under the EFG scheme if it's making a profit, however they have to prove that they would have offered the loan anyway.

CK