Getting Finance?

[Adpod]

Well like I say I'm not hear to talk about the ins and outs.

For those who are actually interested to know if I get finance or not I'll keep you updated.

Oh and just to keep all the nosey people here curious it's an Austrian company try google ;-)

 

[adventurelife]

I would love to see the terms and conditions on the service you sold for the customers to part with £400k that will be sitting in a escrow account for an unlimited amount of time? With little prospect of delivery of service by the sound of it.

Even if you do get finance, which I really doubt, unless you have serious asset value that the finance can be secured against it is going to take a while to get up and running and complete the service.

If this is 100% genuine you will have no problem getting finance from a VC group or private investor, but obviously they will want a fair chunk of the business.

To me you are in a catch 22 situation, no fiance solution I know off will front that sort of value without personal assets to back the deal. Therefore, investors are your only route and their will be a que of them if this 100% genuine. Better to have a small % of something huge rather than a huge % of an idea that comes to nothing.

How did the customers pay the £400k? credit card, bank transfer? just taking money in any form involves costs so a business must be in existence to absorb those costs.

 

[businessfunding]

How many of you people giving these lessons can say they have take £400k in orders in 1 week?

Actrually, all of us could. Whether we could fulfill those orders and return a profit is a different question altogether.

 

[businessfunding]

My question is where would I find a loan company to loan that amount of money.

The point being that for anyone to give intelligent advice they would need a basic understanding of your business & background.

I have PMd offering to give pointers out of goodwill, but had no response. (no, I don't want the business - and I would require a fee to do any work on your behalf other than some very basic pointers)

if you get a leading leasing company to make an offer it will confirm my suspicions that you are:

either

Richard Branson having a bit of fun

or

in need of psychiatric care.

 

[LED Lightworld]

Sounds very fishy, I dont think you have much credibilty. I dont believe local radio and local press deliver those kinds of results, especially in this market.
I suspect there is some nigerian scammer sitting behind his laptop laughing right now. Dont know what the agenda is, but I bet it isnt kosher.

 

[businessfunding]

If this is 100% genuine you will have no problem getting finance from a VC group or private investor, but obviously they will want a fair chunk of the business.

To me you are in a catch 22 situation, no fiance solution I know off will front that sort of value without personal assets to back the deal. Therefore, investors are your only route and their will be a que of them if this 100% genuine. Better to have a small % of something huge rather than a huge % of an idea that comes to nothing.

Can I just caveat that? There are investors out there with money, but they will want some detailed and clear answers to some very specific questions (and to undertake due dilligence) before parting with their cash.

 

[Super Simon]

 

[Moneyman]

Personal guarantee wouldn't be worth the paper it's written on to be honest - I imagine somebody in that position would just declare bankruptcy

err they are not going to take a £2m guarantee unless you can prove you have the assets to cover it! spot the problem.

I once guaranteed more than that and didnt sleep too well for a while.

 

[engcc]

Well like I say I'm not hear to talk about the ins and outs.

For those who are actually interested to know if I get finance or not I'll keep you updated.

Oh and just to keep all the nosey people here curious it's an Austrian company try google ;-)

Is it Kryptonite ?

 

[JamieM]

If I was Adpod I wouldn't reveal the business idea either. There's a massive difference between advertising a product or service in the public domain and advertising the actual (impressive) one weeks sales figures along with it, particularly on a forum full of entrepreneurs.

 

[Moneyman]

If I was Adpod I wouldn't reveal the business idea either. There's a massive difference between advertising a product or service in the public domain and advertising the actual (impressive) one weeks sales figures along with it, particularly on a forum full of entrepreneurs.

I think you are missing the point. he came in asking business advice and hasnt offered any information that could assist with the answer. Like "it is a production line for a meat product" or a construction implement or anything. It is hardly giving the game away. There are only a couple of us here who can come up with or could arrange to finance that sort of cash (£2M). Getting orders for something so early in the startup process might act against raising the finance as it shows recklessness.

 

[Adpod]

I think you are missing the point. he came in asking business advice and hasnt offered any information that could assist with the answer. Like "it is a production line for a meat product" or a construction implement or anything. It is hardly giving the game away. There are only a couple of us here who can come up with or could arrange to finance that sort of cash (£2M). Getting orders for something so early in the startup process might act against raising the finance as it shows recklessness.

I actually didnt come here for business advice, I came here to get contacts for finance companies, with whom I will discuss the business.

I think some people just need to learn to read.

 

[Adpod]

The point being that for anyone to give intelligent advice they would need a basic understanding of your business & background.

I have PMd offering to give pointers out of goodwill, but had no response. (no, I don't want the business - and I would require a fee to do any work on your behalf other than some very basic pointers)

if you get a leading leasing company to make an offer it will confirm my suspicions that you are:

either

Richard Branson having a bit of fun

or

in need of psychiatric care.

Yes you pm'd me and I checked your website which states you only lend upto £250K I need nearly 10 times that amount, which is why I didnt waste your time or my time.

 

[businessfunding]

Yes you pm'd me and I check your website which states you only lend upto £250K I need nearly 10 times that amount, hich is why I didnt waste your time or my time.

We only do unsecured loans up to £250K; which wouldn't be available for a new venture.

I was suggesting giving you pointers, as I actively don't want to involve myself in this project.

 

[Adpod]

We only do unsecured loans up to £250K; which wouldn't be available for a new venture.

I was suggesting giving you pointers, as I actively don't want to involve myself in this project.

Thank you but I dont need pointers, I need names of companies that provide that amount of finance.

 

[Adpod]

*Update*

The leasing company involved would only be prepared to lease 50% of the cost, which is no good to me.

Just waiting on 1 more option to get back to me now.

 

[businessfunding]

Thank you but I dont need pointers, I need names of companies that provide that amount of finance.

Yes, I know

Lloyds. Barclays; HSBC, London Arab Bank, ING, Close Brothers, ABN Amro, Nat West, Santander, Clydesadale, Handelsbank........

The list is endless.

And utterly pointless.

 

[internetspaceships]

Adpod

Bearing in mind it's you that are looking for someone to lend you money, don't you think that a little humility would be in order?

You appear to come across as rude, and any lender would be looking to work with you.

Maybe this is just the way you deliver your comments but I would suggest that it's entirely possible that there are people reading this thread who could help and you're not really giving a good impression of yourself.

 

[Adpod]

Yes, I know

Lloyds. Barclays; HSBC, London Arab Bank, ING, Close Brothers, ABN Amro, Nat West, Santander, Clydesadale, Handelsbank........

The list is endless.

And utterly pointless.

If you actually researched the names you have given you would know that most of them do not offer finance over £250K, Im surprised at you not knowing since your in the business and all?

 

[Adpod]

Adpod

Bearing in mind it's you that are looking for someone to lend you money, don't you think that a little humility would be in order?

You appear to come across as rude, and any lender would be looking to work with you.

Maybe this is just the way you deliver your comments but I would suggest that it's entirely possible that there are people reading this thread who could help and you're not really giving a good impression of yourself.

Actual business people who can offer that amount of finance do not spend all their time on a forum, I am looking for real big finance companies to talk to in private.

 

[internetspaceships]

Actual business people who can offer that amount of finance do not spend all their time on a forum, I am looking for real big finance companies to talk to in private.

So why are you asking on a forum then?

 

[Adpod]

So why are you asking on a forum then?

Because I am sure that the business owners on this site obtained finance to start up their business and I am looking for potential names of high lenders.

 

[businessfunding]

No, I certainly didn't know that.

Perhaps my judgement is clouded by the fact that I know for certain that all of them are entirely capable of lending well in excess of 2 million to the right client.

In fact, at least 2 of them won't entertain proposals below £1 million.

I don't expect you to understand finance, that is why brokers exist; I do expect you to exercise the common sense to listen to people who actually know & understand the market.

 

[businessfunding]

Because I am sure that the business owners on this site obtained finance to start up their business and I am looking for potential names of high lenders.

Which you have been given...

Except that none of them will led to you

We are of course all missing the obvious solution, which is to run 5 more ads & pay cash

Still only 250,000 people (and anyone stumbling acros your website) will get to know your secret..

 

[Adpod]

Which you have been given...

Except that none of them will led to you

We are of course all missing the obvious solution, which is to run 5 more ads & pay cash

Still only 250,000 people (and anyone stumbling acros your website) will get to know your secret..

Im shocked that you clearly do not understand what Escrow actually means, try googling it then you will see why I cant just run more ads.

 

[JamieM]

I think you are missing the point. he came in asking business advice and hasnt offered any information that could assist with the answer. Like "it is a production line for a meat product" or a construction implement or anything. It is hardly giving the game away. There are only a couple of us here who can come up with or could arrange to finance that sort of cash (£2M). Getting orders for something so early in the startup process might act against raising the finance as it shows recklessness.

I appreciate that but some people have been asking him to publicly state what the product is. I don't think that would be wise.

And to be fair he was only really asking for some general advice about where to get financing at that kind of level. Maybe someone who had been in a similar position could have shared their experience or pointed him in the right direction. Or maybe you would have advised that investment was his best option and he could contact you (or any other investor) privately.

I just think that given the apparent potential of the venture, I can fully understand his cautious approach.

We are of course all missing the obvious solution, which is to run 5 more ads & pay cash

Still only 250,000 people (and anyone stumbling acros your website) will get to know your secret..

I was going to suggest that but given that money is held in Escrow there is a lead time issue.

 

[businessfunding]

I was going to suggest that but given that money is held in Escrow there is a lead time issue.

Lead time issue? He is claiming to have taken £400K for a service which doesn't even exist:|

Also, if there were matched funds in Escrow it would be a very different lending proposition, which is why the stance of 'just give me names' is pointless and counter-productive.

But I can't believe I've let myself be dragged into pretending this is a genuine proposition..

 

[JamieM]

Lead time issue? He is claiming to have taken £400K for a service which doesn't even exist:|

Also, if there were matched funds in Escrow it would be a very different lending proposition, which is why the stance of 'just give me names' is pointless and counter-productive.

But I can't believe I've let myself be dragged into pretending this is a genuine proposition..

Yeah so if it is going to take 5 or 6 or maybe more weeks to collect £2m then order the equipment it would be a long lead time. That's if he could even get the funds released. It's more likely funds wouldn't release until the customers have confirmed that they have received the service they paid for.

I appreciate your point about matched lending but even if it was possible there is still the lead time of getting those orders. Not to mention the multiplied advertising and transactional costs without receiving any income.

 

[Adpod]

Lead time issue? He is claiming to have taken £400K for a service which doesn't even exist:|

Also, if there were matched funds in Escrow it would be a very different lending proposition, which is why the stance of 'just give me names' is pointless and counter-productive.

But I can't believe I've let myself be dragged into pretending this is a genuine proposition..

If you have nothing productive to say then why saying anything at all you weren't force to comment. Thanks

 

[businessfunding]

If you have nothing productive to say then why saying anything at all you weren't force to comment. Thanks

Actually, I made a very productive suggestion regarding matched funding. Many people have attempted to be constructive, but you have responded with utter nonsense.

You don't have any relatives called Poodle, do you?

 

[Adpod]

Actually, I made a very productive suggestion regarding matched funding. Many people have attempted to be constructive, but you have responded with utter nonsense.

You don't have any relatives called Poodle, do you?

Actually the 8 people who pm'd me have offered constuctive advice and most of them haven't felt the need to write on the open forum asking for details, I guess they are a bit more professional than some.

And no I don' have a relative called Poodle, is that some kind of joke?

 

[Moneyman]

He doesnt want to give away equity.
He wants to know where he can get a loan.
he has never googled "bank". other institutions such as VC dont do fixed loans (i know because that is what i do and we take equity). Other companies that do leases are part of banks.
There are no great shady companies loaning out money to startups
So google banks or have a look down the high street. problem solved.
glad to be of assistance.

 

[businessfunding]

, I guess they are a bit more professional than some.

And no I don' have a relative called Poodle, is that some kind of joke?

So, to recap:

I PMd you offering some pointers.

You apparently read one small piece on my website for a particular (inappropriate) facility which was a maximum of £250k so decided not to respond.

You responded on forum saying you didn't want pointers you wanted names.

I provided names.

You replied - aggressively and completely wrongly - that the people I had suggested would only lend up to £250K (why are you fixated on that figure?)

Thats just my line - there are many others who have tried to help and received abuse.

So yes, some certainly are more professional than others. I hope whoever is 'helping' you will get an up-front fee for time wasting.

Poodles isn't exactly a joke, just someone who used to be on the forum posting similar fantasy and responding aggressively, just like you. He was banned.

 

[Adpod]

I think I have managed to sort out my problem.

The company who sell the machines are willing to hire me the machine direct from them, I haven't got the exact figures on there hire charges yet but hopefully they will work out to be reasonable.

Thanks to those who helped me.

 

[Adpod]

So, to recap:

I PMd you offering some pointers.

You apparently read one small piece on my website for a particular (inappropriate) facility which was a maximum of £250k so decided not to respond.

You responded on forum saying you didn't want pointers you wanted names.

I provided names.

You replied - aggressively and completely wrongly - that the people I had suggested would only lend up to £250K (why are you fixated on that figure?)

Thats just my line - there are many others who have tried to help and received abuse.

So yes, some certainly are more professional than others. I hope whoever is 'helping' you will get an up-front fee for time wasting.

Poodles isn't exactly a joke, just someone who used to be on the forum posting similar fantasy and responding aggressively, just like you. He was banned.

I have nothing to say to people like yourself, I suggest you continue to watch Dragon's Den and pretend you know everything in business.

 

[Super Simon]

I have nothing to say to people like yourself, I suggest you continue to watch Dragon's Den and pretend you know everything in business.

Says the guy who has just spent the last few days desperately trying to secure funding on a mystery machine to fulfill orders that he has taken for an imaginary product...

You're a tool.

 

[Adpod]

Says the guy who has just spent the last few days desperately trying to secure funding on a mystery machine to fulfill orders that he has taken for an imaginary product...

You're a tool.

its actually a service not a product you tool, learn the difference.

 

[Super Simon]

its actually a service not a product you tool, learn the difference.

Why does a "service" need a £2million machine?

Actually, I've just thought.... You're one of the Ghostbusters aren't you?

 

[businessfunding]

Why does a "service" need a £2million machine?

Actually, I've just thought.... You're one of the Ghostbusters aren't you?

Stop it; you're making out as if he isn't genuine.

He is no different to any other guy who posted an ad for an imaginary product, collected £400K in Escrow accounts then popped onto a forum to ask how to get £2 million and abused anyone who came up with a suggestion.

I can't wait to read his autobiography...

 

[Adpod]

Why does a "service" need a £2million machine?

Actually, I've just thought.... You're one of the Ghostbusters aren't you?

Thats the question everybody here wants to know the answer too. Maybe you should do some research