Any good banks out there for getting a business loan

**MilanBenesXP** · 22 August 2003, 13:28

I'm sorry to say you are in the wrong country.

In Britain banks are not associated with business loans - it is too riskee for them.

Milan.

**LiamP** · 22 August 2003, 17:26

Try first direct

they offer good rates for personal loans but im not sure about business loans

**reynolds** · 4 September 2003, 19:33

re

"In Britain banks are not associated with business loans"

of course they do. who else would?

**Mark Snowdon** · 5 September 2003, 08:20

loans

I would say that your chance of getting a decent business loan for a start up is v low.

the banks will not be interested unless you put up personal collateral.

try vc route or the dti for any info on grants that might be available.

consider relocation to north wales / teesside / a.n.other depressed area of europe.

**197jdm** · 11 September 2003, 13:36

If your business plan stands up, go to one of the big four. If it doesn't stand up, drop the idea of starting up as you'll lose money

Are you interested in buying an NT4 server with a full commercial recruitment database on it? Licensed for 4 but this can be extended to any number. 27000 IT CV's, 5000 client records

Looking for £1500 plus. Mail me at [email protected] if you are interested

**AtW** · 12 September 2003, 23:00

Re: loans

would not recommend VC route - both from direct and indirect experience. In any case VC want fairly high figures earned within 2-3 years and I mean LOADS.

Personally I am planning to put part of my savings into company and finance solely from earnings.

Grants (I am not eligible) is actually a good thing so long as you dont need lots of money, I mean you cant count on £50-100k without something serious at hand.

**McBainCo** · 15 September 2003, 10:47

Re: loans

Mikesed,

Another route is the Business Angel one.

Are you familiar with the terminology?

**mikesed** · 10 October 2003, 19:24

Re: loans

Yes familiar with Business Angels,thanks.

Thanks all for advice. Been very informative.

**MarillionFan** · 13 October 2003, 05:37

Re: loans

"If your business plan stands up, go to one of the big four. If it doesn't stand up, drop the idea of starting up as you'll lose money "

Thats a complete load of tosh. Basically if you go to one of the big four and they say 'no', it's got bugger all to do with whether the business will be successful or not, and all to do with whether the bank can get their money back.

Highstreet banks ask for ridiculous lending critieria. I have recently gone (again) for a loan to buy a commercial,investment & residential property. I was asked for minimum 30% deposit and offered such fantastic rates as minimum base + 3 and base + >3, as well as a 1.5 arrangement fee.

Previously when looking to borrow £40k for a business, the bank asked that I put down £40k and stated that I would need £80k in equity as an extra gaurantee!!! Instead, the bank manager eventually agreed to giving me a £25k personal loan and a £10k overdraft both of which were cheaper than the bloody loan!!!!!

Bankers all of 'em.

Any good banks out there for getting a business loan