Loans for new businesses

CAROL_T05

I am really wanting to open a new business - but it's a franchised business, how would I go about getting a loan to put the money upfront? What kind of things would they be looking for? I'm 23 and don't have any qualifications in business.

Any help/advice would be much a appreciated

CLAPTON

how much do you want to borrow
how much will you put up of your own money
or do you have security (equity in property?)
do you have a business plan
have you previous experience of this business

CAROL_T05

Thanks for that - I'm looking into drawing up a business plan, as I was unsure as to what you even had to do!

CLAPTON

If you have no experience of business, investigate your local chamber of commerce and/or Princes Trust who can offer free advice on starting a new business.. there may even be small grants/loans available.

Mark7799

Try https://www.businesslink.co.uk

sol224

I am also looking to start up a new business.

I do not own any property and aged 26. With a solid business plan and no bad credit history what kind of rate on a loan could i get.

jonesMUFCforever

sol224 wrote: »

I am also looking to start up a new business.

I do not own any property and aged 26. With a solid business plan and no bad credit history what kind of rate on a loan could i get.

Have you got anything towards the cost of starting the business yourself?