Business loan - unsecured?

richie_greenuk

Hello

I am setting up a new business in an industry where I have worked at senior levels for the last 10 years, so am experienced and have a sound business plan.

I require around £8k-£10k to set up for the initial cashflow - would I be able to get an unsecured business loan for this amount?

Rgds
Richard

Rafter

Richard,

Very unlikely unsecured. Try your local business link for advice about grants and funding, but it is highly likely you will have to either put your own assets (eg home) up as security. Otherwise you will have to apply for a personal unsecured loan for 'home improvement' and use that instead ;-)

R.