Business Loans To Get Started

Discussion in 'Chit Chat & Introductions' started by Joe, Jul 18, 2012.

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  1. Joe

    Joe Active Member
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    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!
     
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  2. Shaun1977

    Shaun1977 Forum Addict
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    Very hard work with getting business loans from banks to start up now Ud prob be better gettin a personal loan
     
  3. rcproperty

    rcproperty Hero
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    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
     
  4. mr shine

    mr shine Guru
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    good advice rc maybe canvas yourself and you will build a decent round in a short time
     
  5. Sharpy

    Sharpy Member
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  6. Joe

    Joe Active Member
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    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
     
  7. Joe

    Joe Active Member
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    Yes ok mate ill just sign my life away lol
     
  8. Sharpy

    Sharpy Member
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    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).
     
  9. rcproperty

    rcproperty Hero
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    dont forget public liability and insurance too!
     
  10. Joe

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

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