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Taking a Business loan?


bigdave

Moderator
Staff member
#1
I've had a business idea which I'm fairly sure would be a major success but due to the nature of this particular business, it'd require a lot of initial input (too much to work full time at the same time) for 8-12 months with very little profit but then the profits will be immense.

Has anyone taken a business loan to support themselves and their fledgling business? Are they hard to get? what about repayments?
 
#7
If you're still looking for funding for a new business, have you considered invoice finance?

Unlike business loans, it doesn't require years of profit/credit history and is readily accessible to most start-ups!

Just a shameless little plug, you could check out our website for more :icon_smile:
 
#8
about getting loans is completely based on your credit rating , how to manage your transactions and stuff like that, many banks offers a reasonable repayment options with less interest
 

bigdave

Moderator
Staff member
#10
My super idea turned out to to perhaps be a bit flawed and not that super. :(

However, Emma's business idea of hand made wedding stationery is super!.... We're trying to bankroll it ourselves using her redundancy money as it's possibly not the sort of business that will turn enough profit quickly enough to make it appealing to an 'angel'... (although she's happy to discuss it) but it's proving difficult (who'd have thought just booking a table at a wedding fair would cost £170!!)
 

Dave L

Well-Known Member
#11
My super idea turned out to to perhaps be a bit flawed and not that super. :(
Is it something you'd now be happy for us to have a look at (as a case study)? I think it might be interesting to see how these things come about and where they start to unravel.