Raising finance

[carolb]

I have a new business venture I need to start and need about £25k in start up funds - any idea how I go about getting this - and where should I go first - the banks ?

[james]

If you can not get any finance from people you know - have you tried your bank at all ?

There's the government's small business loan guarantee scheme for loans from £5,000 to £100,000 (£250k if trading over 2 years).

It's administered via your bank and you need to contact them first.

I think Peter has some info on his site somewhere I've read before

J

[peterjhale]

Yes, you can find all the information here :

http://www.teneric.co.uk/businessinfo/002.html

The scheme does work. We worked with a company and raised £120k a few months back via their bank.

I think if you have a good relationship with your bank then you are halfway there.

Peter

[peterjhale]

Just a PS to the above.


The Dti guarantee 75% of the loan value and you need to guarantee the rest.

You could simply talk to your bank about a regular loan - the rates should be on a par with regular loans for personal use.

If you are a very (very) small business who needs about £1500-£2500 to get started there's another company called street-uk who arrange this type of finance.

[carolb]

thanks for that

I'll have a go with my bank and see what happens

[peterjhale]

Let us know and if there are any tips you can share


Peter

[james]

I think the biggest tip is just to work with your bank

Find out what they want and product just that

After talking with them you'll know if you're going to get the loan or not

James

[peterjhale]

It's true - talk with your lender and find out what they are expecting to receive from you beforehand

[freddie]

There are a lot of options available especially in the introductory broker field. Check out this link www.forextraderinternational.com and go to “Career in Forex”.

[louise]

Hmm - a forum spammer

are you going to add him to the list Peter ?