Government backed business loan

JohnJLewis

I am after some information about that government backed business loan.

Are there any experts on here, or anyone who has got it?

I am after several thousand for a new business, and am looking for help with the business plan.

fwor

JohnJLewis wrote: »

I am after some information about that government backed business loan.

Are there any experts on here, or anyone who has got it?

Which government backed loan scheme are you referring to?

JohnJLewis

fwor wrote: »

Which government backed loan scheme are you referring to?

Well thats what I would like to talk about.

I was only aware of one, so are there a few?

ViolaLass

JohnJLewis wrote: »

Well thats what I would like to talk about.

I was only aware of one, so are there a few?

I'm not aware of any.

JohnJLewis

Someone told me if the bank says no to your loan there is a government thing you can apply for. But you have to have been turned down from the bank first.

You have to have a good business plan and look realistic and all.

I hope someone on here knows about this.

real1314

Might be best to ask the someone who told you about these loans?

fwor

JohnJLewis wrote: »

Someone told me if the bank says no to your loan there is a government thing you can apply for. But you have to have been turned down from the bank first.

So the one feature that we know about the scheme is that in order to qualify you have to have a business idea that a bank believes will not work. Is that it - the full extent of our collective knowledge about the scheme?

safestored4

Just Google in 'Govermemt Business Loans' and the YouGov website gives you the answer you are looking for.

dealer_wins

To get a £30000 loan for a new business you need a realistic business plan, and at least £30000 cash to put up yourself!

CKhalvashi

fwor wrote: »

So the one feature that we know about the scheme is that in order to qualify you have to have a business idea that a bank believes will not work. Is that it - the full extent of our collective knowledge about the scheme?

The bank must have been in a position to approve it, except for a lack of security from the borrower, although the borrower will have to do everything possible to pay it back before the govt will pay out.

It's called the Enterprise Finance Guarantee scheme.

CK

http://startups.co.uk/enterprise-finance-guarantee-scheme-explained/

JohnJLewis

CKhalvashi wrote: »

The bank must have been in a position to approve it, except for a lack of security from the borrower, although the borrower will have to do everything possible to pay it back before the govt will pay out.

It's called the Enterprise Finance Guarantee scheme.

CK

http://startups.co.uk/enterprise-finance-guarantee-scheme-explained/

I just started applying for it, but maybe my credit file is not good enough.

they just said to me.

As personal loan you do not need a high credit rating, you are submitted to a soft credit check, if you want, send me your credit report and I will discuss it with one of our business advisor.

We also require each applicants no defaults or CJs for the past 6 months