06-11-2009, 10:48 AM
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#1
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Join Date: Mar 2009
Location: UK
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Investment/Loans
Hello
I know the most obvious point of contact for a business loan is a bank, if i had a business offered to me for £92000 and it was turning over £12-£13 grand a week and i had a solid business plan and the backing of a huge well know company is there anything to stop the banks refusing my loan?
Does anybody know a website or companies that do private investments?
Thanks
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06-11-2009, 11:10 AM
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#2
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Join Date: Aug 2009
Location: Glasgow
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Re: Investment/Loans
Quote:
Originally Posted by signature
Hello
I know the most obvious point of contact for a business loan is a bank, if i had a business offered to me for £92000 and it was turning over £12-£13 grand a week and i had a solid business plan and the backing of a huge well know company is there anything to stop the banks refusing my loan?
Does anybody know a website or companies that do private investments?
Thanks
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Problem may be your credit with the bank.
You got good or bad credit?
Alan
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06-11-2009, 11:11 AM
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#3
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Join Date: Mar 2009
Location: UK
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Re: Investment/Loans
Quote:
Originally Posted by PrizedJewel
Problem may be your credit with the bank.
You got good or bad credit?
Alan
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Ive not applied for it yet just seeing if there is anything ive missed so when the objection comes up i can address it, my credit rating is good!!!
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06-11-2009, 02:05 PM
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#4
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Join Date: Aug 2009
Location: United Kingdom
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Re: Investment/Loans
If you have the backing of a huge well known company, can't they help?
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06-11-2009, 02:07 PM
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#5
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Join Date: Jul 2009
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Re: Investment/Loans
As above!
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06-11-2009, 02:30 PM
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#6
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Join Date: Dec 2007
Location: England
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Re: Investment/Loans
Have you ever seen your credit report? Do you have any capital to put into the business? As in you're buying the business for £120,000 and just want 92000 from the banks or are you wanting the full cost of the business from the bank? Is there any property involved? Do you own any property? We cant really tell you anything based on what you have said.
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06-11-2009, 06:31 PM
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#7
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Join Date: May 2007
Location: UK
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Re: Investment/Loans
Most importantly..... when borrowing commercial money, how much cash have you got to put down against the loan?
Buying a business just isn't about what it does a week there are a billion and one other things involved and much more complex than raising finance.
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06-11-2009, 10:33 PM
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#8
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Join Date: Mar 2009
Location: UK
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Re: Investment/Loans
Quote:
Originally Posted by Seraph
If you have the backing of a huge well known company, can't they help?
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They are providing other things for myself
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06-11-2009, 10:45 PM
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#9
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Join Date: Oct 2005
Location: Milton Keynes, UK
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Re: Investment/Loans
You need to prove to the bank that you won't **** up the business. It might be doing £13k now but what happens if you mess it up?
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November 2009
