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Business Loans To Get Started

Joe

Member
Messages
209
Has anybody ever started up on a business loan? Not massive im thinking maybe 4k over 4 years?

Ive been going a month or so and am really happy, would like to go full time asap

Just wanted the money to just have a big stock up on trad bits that im missing and will need/use over next year or so and get a back pack etc, then settle up the insurance on the van and go for it. (£1000)

Was thinking of buying a smallish round or getting a canvasser to work alongside me when im not working to hurry things up a bit.

(£1500)

Then Spend £500 on leaflets advertising give aways etc trying to get people on board.

And of course putting away £1k as emergency money!

If anyone did start off this way did you go to the bank with a full detailed business plan or what?

Hope all that makes sense, dont think ive ever typed so much!

 
the thing i would look out for and think about is what if i cant pick any customers up for several months its another bill to try and find at the end of the day. think carfully about it

 
Yes Cheers lads, I am thinking carefully about it.

As long as my insurance on van is paid, i should be ok. Living at home still, my old dear will be happy to take a few months rent in advance to help me get rolling, i could just give her my last months wages and shed be sorted.

Ive got a sensible head on me & Its a huge leap of faith but im 100% confident in myself and dont think you should look into borrowing money if you have any doubts about yourself.

Hmmmm

 
Sorry, I was just trying to be funny.

In all sincerity, try your best to avoid borrowing anything. I know it's a good option, you get everything you need there and then.

However, if circumstances allow it I would pace yourself. You say you live at home, take every advantage of that. It's an opportunity for your mum to help you, without having to lend you money. I'm sure if you explain she will be flexible with the rent you pay.

I'm starting from scratch, but want to avoid borrowing anything. That way, any money you make, from your very first tenner will be 100% YOURS. (Obviously after Mr Tax Man has his bit).

 
Sharpy- no worries mate! They got a catchy song on the radio!

Rc i already have necessary insurances so im cool on that front!

 
Have you tried you local chamber of commerce or princes trust for funding? How old are you because they has a max age of 30 I think it is

 
Nice Idea Paul but i think you have to be unemployed. Dont think theres much help about for a 22 year old thats worked hard since he was 16.

 
Not with the chambers mate I was there yesterday about networking events and marketing and he was asking if I needed funding worth a try the don't charge anything

 
Have you started yet joe? What all trad gear you got and need? Ask the dole office for a grant or a loan? Get 5000 flyers off eBay for around £60 go knocking every night for as long as it takes you to be bringing in good money every week..

 
I really doubt you will get a loan from a bank without having something to secure it with I.e a House.

You will deffo need a business plan. If you dont have a decent income or own a house they will turn you away.

 
I have started at weekends and got most trad gear, all i needed was a loan to get me going full time sooner rather than later, i can cope with earning £500 a month for a few months, as long as my van insurance is covered and rent paid i have no other expenses. I might not opt for a loan and just set a target to go full time and put a few grand away but i wanna go now! Plenty of work in my area, just the time to go and get it and then do it holding me back! Dont think job centre will give me any money as I have worked everyday since i left school 6 years ago!

 
I have started at weekends and got most trad gear, all i needed was a loan to get me going full time sooner rather than later, i can cope with earning £500 a month for a few months, as long as my van insurance is covered and rent paid i have no other expenses. I might not opt for a loan and just set a target to go full time and put a few grand away but i wanna go now! Plenty of work in my area, just the time to go and get it and then do it holding me back! Dont think job centre will give me any money as I have worked everyday since i left school 6 years ago!
Business gateway could help and offer free advice. Im not sure if the cover all the UK though. Worth a look

 
Princess trust wont do nothing... they will tell u to get a ladder etc... u only need a few hundred kwid to get started really... so princess trust wont benefit

 
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