Business loans for new company start up

CKhalvashi

woodcinvestmentcompany wrote: »

Hello Sir/Madam

Yeah, this is a UK website.

DCFC79

BritishBronco wrote: »

Assuming the following, what would be my chances:

1. The debt I have is paid off in full with supporting documentation
2. I can demonstrate to the bank manager a successful track record over the last 4 years of what I've done
3. I go with a BFA approved franchise that has over 30 franchisees in the UK all making 6 figures
3. I have 50% of the capital - 25kGBP


I ask them to loan me the other 50%/25kGBP?

Your wanting a lender to trust you with a huge chunk of money when you have 2 defaults on your credit file.

I can't see it happening myself.

BTW what's the franchise ?

oldhand

DCFC79 wrote: »

Your wanting a lender to trust you with a huge chunk of money when you have 2 defaults on your credit file.

I can't see it happening myself.

BTW what's the franchise ?

Queens coronation flag seller??.........:cool:

BritishBronco

My story is basically

I have 12 years experience in my consulting field
In 2011 my girlfriend fell pregnant and we basically had nothing, no house, no assets
We moved overseas when the baby was 2 months old
Since then I've saved 50 grand, bought a house, had another baby and have zero debt in the country I'm in
I've also generated over 4 million dollars in sales from my services in those years

Basically made some poor choices, rectified them, track record in delivering revenue, putting up some of my own.

BritishBronco

My question is, do I have a chance? I can present a compelling case to a bank manager so I have a chance or is it an absolute non starter.

BrassicWoman

I would go off and earn lots of commission for a year and then do it without a loan. You are a flight risk as well as a defualter which does not look good.

jonesMUFCforever

BritishBronco wrote: »

My question is, do I have a chance? I can present a compelling case to a bank manager so I have a chance or is it an absolute non starter.

Bank managers rely on computer says yes/no and normally have no authority to override.

Why not make an appointment with a business manager at a bank to see?