Start Up Finance....with bad credit

[RockHammer]

Hi Guys,

Long story short.

I'm a recruitment consultant, have been for a long time and I'm very good at what I do, I have a proven track record of producing financial results....the only problem being that up until now, the main beneficiary of those results has been somebody else!

I really want to go into business for myself and start my own recruitment company but I have a bit of a dark cloud hanging over me, that being I'm in a IVA personally ie. officially classified as insolvent and therefore cannot obtain personal credit.

As I would need to borrow money to get my business started to cover costs such as basic start up, paying contractors (payroll) etc does this mean I'm screwed?

Half of me thinks this may be a silly question but I was hoping that there may be some options available.

Anybody have any advice, experience in this area?

RH

[Ian J]

As a factoring broker I'm happy to discuss this with you as the IVA doesn't automatically disbar you from obtaining a factoring facility. My contact details are available on my website if you wish to telephone me for a chat in confidence.

[no1youknowz]

Hi RockHammer,

I too am wanting to start a Recruitment Company. Whilst I cannot provide any funding to help, and there may not be the facility to partner up. I would however like to discuss some topics with you at length.

At the end of the day, you will never know where contacts may be of help.

email me at no1youknowz@gmail.com

Thanks

[Funding Solutions]

RH,

I am in agreement with Ian.

Your main issue, especially if you are a temporary recruitment consultant will be cashflow. Paying your contractors is imperative.

A factoring facility will allow you to access finance based on the quality of your clients. With some simple processes in place accessing such a facility should not be a problem.

Depending on your set up finance to purchase office equipment or a vehicle may also be possible.

Click on my name above to access our website and make contact.

Kind regards

Ian - Funding Solutions

Originally Posted by RockHammer

Hi Guys,

Long story short.

I'm a recruitment consultant, have been for a long time and I'm very good at what I do, I have a proven track record of producing financial results....the only problem being that up until now, the main beneficiary of those results has been somebody else!

I really want to go into business for myself and start my own recruitment company but I have a bit of a dark cloud hanging over me, that being I'm in a IVA personally ie. officially classified as insolvent and therefore cannot obtain personal credit.

As I would need to borrow money to get my business started to cover costs such as basic start up, paying contractors (payroll) etc does this mean I'm screwed?

Half of me thinks this may be a silly question but I was hoping that there may be some options available.

Anybody have any advice, experience in this area?

RH

[tdmoggy]

Perharps we can hook up.
I am in the process of starting up an agency myself. Send me a mail with your details and i will call you.

specialrequest08@aol.com

[no1youknowz]

Well I posted the same response as the reply above me, but seems to have been deleted. Even though I was informed of the new post!

Rockhammer, where are you based? I know in London you can approach the GLE with their One London initiative, which allows those with bad credit to gain access to loans up to 7k to start them up.

Also what industry/sectors are you starting in Rockhammer?