Loan for Business.

Lxrdy

I'm 19 years old and would like to apply for a loan for a sort of 'start up' in a pub. Me and my two friends (whom are both in their 30s for clarification) were thinking of leaving our current position in a pub and investing in our own chain-owned pub. However in order to do this we would need to invest around £10,000. Obviously split three ways this would be around £3,500. I was there wondering where would be the best place to apply for a loan regarding my circumstance. Thanks in advanced for any advice given!

Arleen

The best place will be to save up for few months and then go into the business together with your savings rather than taking a high-interest personal loan (that you are unlikely to get anyway). This will also give you time to hone in your business plan, make sure that the numbers stack up and that returns you forecast are realistic, and enough to survive on.

[Deleted User]

The best advice will be from the brewery or "pub chain", they may have access to funds

DCFC79

Lxrdy wrote: »

I'm 19 years old and would like to apply for a loan for a sort of 'start up' in a pub. Me and my two friends (whom are both in their 30s for clarification) were thinking of leaving our current position in a pub and investing in our own chain-owned pub. However in order to do this we would need to invest around £10,000. Obviously split three ways this would be around £3,500. I was there wondering where would be the best place to apply for a loan regarding my circumstance. Thanks in advanced for any advice given!

Get saving.

The advice previously posted about talking to the chains is good, there might be restrictions in place, maybe you have to be a certain age but talk to them and they will tell you.