Personal loan while dad at home

enthusiasticsaver

A business plan shows the person has thought about the risks, done some research and planning and not just decided on a whim to start a business. They would have investigated cheaper ways of getting the machine by renting short term maybe if that was an option. You dismissed that earlier on in the thread but it would at least have shown you had thought about that. It is not about predicting the future, no one can do that but about planning and having a plan B or C and doing the correct research to minimise risk of it failing. Checking the current suppliers for your particular product or service and if there is a place in the market for you.

Without putting something on paper to demonstrate that some thought had gone into the proposal the banks would have to take you knowing what you were doing on trust and banks do not do that. They provide a service, they are lending other peoples money so have to assess the risk they may not get repaid. They would also want to know what you were investing so the risk is shared. After all if it is only the banks money you are investing and you are not putting in anything what is to stop you just walking away if it does not work out?


The bottom line though is that if you want something from the banks you have to play their game as they hold all the cards.

threedee

enthusiasticsaver wrote: »

The bottom line though is that if you want something from the banks you have to play their game as they hold all the cards.

Thank goodness, in this case they dont.


Well, i suppose there are lots of delusionals. 2008 called ?


Sadly no contracts, and ONLY option to import. UK companies want 3-5+ times more for the same thing. And i'm not prepared to pay that much for the privilege just to sign a contract.


At the moment i'm out a little bit before delivery. Right at the delivery point i will know if the rest will be paid. Got enough technical clout to sort problems on the spot should there be any.

Bermonia

OP your whingeing about banks is completely unjustified... banks have to be accountable for the money they lend, they are also required by regulations to ensure that someone can afford to repay what they borrow... not sure how lending to someone with no income would be considered in ANY way responsible.