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Taking a Business loan?

Discussion in 'General Business Forum:' started by bigdave, Jun 12, 2012.

  1. bigdave

    bigdave Moderator Staff Member

    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?
  2. Stationery Direct

    Stationery Direct Administrator Staff Member

    Maybe look for a partner so that the work load can be split, just a thought...
  3. Kev Clarke

    Kev Clarke Member

    Speak to this guy he might be able to help,

    Screen shot 2012-06-12 at 20.32.28.jpg
  4. DAVOR

    DAVOR Member

    Doubt it, he never invests in anything, and for that reason I'm out! :icon_biggrin:
  5. Katedesign

    Katedesign Well-Known Member

    It might be worth trying to find a business 'angel'...
  6. Stationery Direct

    Stationery Direct Administrator Staff Member

    Yeah I may be interested if it's a good idea...
  7. billtheinvoice

    billtheinvoice New Member

    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. rehan12

    rehan12 New Member

    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
  9. Minuteman Press

    Minuteman Press Moderator

    Dave - write a splendid business plan and negotiate payment terms. Sounds simple - most folk don't (as our HSBC regional director often comments).
  10. bigdave

    bigdave Moderator Staff Member

    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!!)
  11. Dave L

    Dave L Well-Known Member

    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.

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