My Business

[goosegirl]

Hi guys,

I,m having a annoying time, trying to get my start-up money sorted.

All the banks have fancy start-up packs telling you they can help. None will offer finance to start ups unless you have savings, or a lot of expensive IT gear.

Never mind the impressive business plan. The business women told me on the phone to get a mortgage, before speaking to her again. The interest is cheaper as well than a business loan. This was lloyds tsb.

Went to the leeds and holbeck building society. She rubbed her hands together until we told her that it was a remortgage to start a business plus clear a few debts.

She said we both had to show 6 months pay slips, ok if we were working not claiming benifit. Never mind that we own our property, paid for by cash no mortgage. Or my fella's money from a road accident, which is a 6 figure number.

What the heck do they want blood. I,m hacked off with them all this week.

I,m am trying for a remortgage from lloyds on monday, if that falls through I will try one online. And if that fails I shall have to see what my fella and his IFA comes up with.

GG.

[JJ]

GG

It's a nightmare isn't it. :angry:

We tried to get 'business' finance when we started up and failed. Had to remortgage in the end, have you tried a 'non status' mortgage?

A decent IFA should be able to assist you.

Good luck

JJ

[annoyed1971]

Goosegirl,

Bank of Scotland now offer Business Banking through Halifax branches if you fancy giving them a try....

[goosegirl]

JJ,

Thankyou for the quick reply, no I,ve not tried that yet. I have had ccjs in the past and a bad credit rating. But I,ve got rid of the ccjs and improved my credit rating.

For quite a while I had no bank account, now I have a currant one, a saving one, and 2 credit cards. One is a 2 grand one and the other is a naff C one 200 quid one buts its not bad.

I dont really want to mess with my fellas money, but I dont want to be paying twice as much as what I want to borrow.

But I will try what you suggest.

GG.

[Eeyore]

I had the same nightmare when I w3as going to start a business, no money from anywhere ;)

What happened to grants for new businesses? :unsure:

[goosegirl]

Hello eeyore,

I,ve looked at a list of grants, awards and loans. They were for a different area to us or for people already in business. Some had to start from 50,000 upwards.


Hi annoyed1971,

Thanks I,ll have a look.

GG.

[tact77]

Hi GG

Have you tried phoning your local job centre they usually have a list of people who help with business start ups.