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wannabe entrepreneur's Avatar
Business Planning
 
Posts: 5
Join Date: Mar 2007
Location: London
Talking Finance needed for business customers - new start-up - 29-03-2007, 03:59 AM

Hi there, please bear with me as I am new to all this.

I am currently in the process of launching a new business that is over two years in the making.
Without giving too much away, Its a type of concierge style all-in-one lifestyle company that offers everything from holidays, restaurants to cinema and theatre.

What I need is advice or info on how to obtain finance for my customers (those that may need it).

The finance needed will be between £1500 - £2000 per application.
Going by the business plan, our expected sales are between 40 - 100 per week in the first few months, gaining to anything from 250 upwards per week.
So as you can guess, theres no telling how many applications will be made for finance at any given month.

I think this is a fantastic opportunity for a finance Broker or banking institute to gain customers.

Maybe the best way to describe what I'm trying to relay is by using an example one might be able to relate to.
GE Capital provide finance to department stores such as Debs and M&S etc..
These stores in-return issue there customers with branded store cards providing them with finance up to £5000 some maybe even more.

What I need is something similar, either a type of branded company card providing finance for my customers or a banking firm/institute/broker providing individual finance. or something maybe different but to point.

Please can someone make sense of my Gibberish and possibly offer a few solutions.

Many Thanks in Advance

wannabe entrepreneur
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Let it Ride Offline
Business Planning
 
Posts: 4
Join Date: Mar 2007
Location: Faversham, Kent
Re: Finance needed for business customers - new start-up - 29-03-2007, 12:35 PM

Hi Wannabe

First of all you will need a consumer credit licence - go to the office of fair trading website and download the application form - For a sole trader its £135 and for a limited company £335 - you can't apply online unfortunately.

That's the easy part!

I deal exclusively with business to business finance so I'm not too sure on the rules concerning personal finance but I know they are stringent - I could speak to a couple of business contacts and ask if their advice - PM me if you would like me to do that.

Kind Regards

Ian
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mark611 Offline
Business Director
 
Posts: 67
Join Date: Oct 2006
Re: Finance needed for business customers - new start-up - 29-08-2007, 01:11 AM

Wannabe, hows your business going? did you manage to sort out your finance problems?
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