Looking for non bank funding any ideas?

[garside26779]

I have set up with a luton van ready to start out again after an unsuccessful spell as a courier. I am fully insured and ready to go. however I am in need of a little further investment just to fall back on when its quiet and when the invoices are waiting to be paid.

I wonder if anyone has any ideas of any grants or government loan schemes that are available in our region, as I don't want to touch banks just yet.

I have heard of one going under the DWP but have yet to seek further advice on that and wonder if anyone else has experienced that option?

Any feedback would be greatly received.

[akirk]

2 basic ways of looking at funding (outside grants):

risk funding - e.g. loan etc.
equity funding - e.g. venture capitalist

I have set up with a luton van ready to start out again after an unsuccessful spell as a courier. I am fully insured and ready to go. however I am in need of a little further investment just to fall back on when its quiet and when the invoices are waiting to be paid.

those two statements will make someone run a mile - if you were unsuccessful last time, what will make you successful now?

to fall back on means to pay you a salary - where would your incentive be to get income coming in - if you are tired, well, doesn't matter there is money to fall back on, no investor likes to put money in so that you can pay yourself...

so you are left with loans / grants

loans will depend on your credit rating / business plan

grants will depend on varied things depending on the grant...

but fundamentally beneath it all you need a solid business plan or nothing will happen and previous unsuccessful spell means that you have twice the task now to prove you can do it...

Alasdair

[kontracta_com]

If you are looking specifically to see what grants are out there then BusinessLink is perhaps the place to start your research:

http://www.businesslink.gov.uk/bdotg/action/layer?r.s=tl&r.lc=en&topicId=1073858790
and
http://online.businesslink.gov.uk/bdotg/action/bsf?r.s=p&r.pp=11&r.l1=1073858790&r.lc=en&r.li=1086006143

There are also other sites out there. The first one I happened across was:
http://www.smallbusiness.co.uk/channels/small-business-finance/government-grants/

I really don't know what the situtation is at the moment with regards to the amounts available and the variety of sources but there can be no harm in looking.

Good luck!

[leemason]

If you are looking for a loan for a specific business purchase rather than just to aid cashflow you could try ZOPA (www.zopa.com). It's a great way of cutting out the Banks. You lend money directly from lots of individual borrowers...

[kontracta_com]

For an extra 2p on this thread, I'd also echo what Lee said. If you don't want to touch banks but want loan finance then you can get some decent rates on Zopa. Just read the small print and do your research beforehand as usual....