loans

  1. maxheadroom

    Bounce Back Loan Advice Needed

    In May 2020, I applied for a £15,000 Bounce Back Loan, which was approved instantly. The funds were used primarily for lead generation as business had slowed due to the pandemic. Unfortunately, this strategy didn’t work, and despite my best efforts, I had to cease trading in November 2020. In...
  2. W

    Capital loan but with delayed repayment start date?

    Trying to wrap my head around planning for growth but looking for suggestions on how to potentially get some capital to allow for purchasing more inventory but where said inventory is not always reliably available on exact timescales. The "trouble" I feel we're in at the moment is that we're...
  3. F

    Non share holding director asked to be a Personal guarantor on a Loan - Help with my next steps

    Hi, I am non share holding director of an SME. I have been asked by one of the shareholders to sign as a PG on A loan. For context, there are 2 shareholders. One is retired so is not signing as a PG. I have a locked price on 20% of his shares and I have 3 years to buy them. I can do this using...
  4. Navigating the world of personal guarantees in business: a comprehensive guide

    Navigating the world of personal guarantees in business: a comprehensive guide

    In the intricate dance of business finance, the term "Personal Guarantee" (PG) often steps onto the floor, bringing with it a blend of opportunity and caution. A PG is a legal commitment made by an individual, usually a business owner or director, to repay credit issued to their business if the...
  5. W

    Shopify Capital?

    Does anyone have experience with Shopify Capital? We're considering taking an offer (to expand inventory) for it largely because of the convenience of the daily remittance rather than a fixed monthly loan repayment figure and while the loan fee is quite high the trade off of convenient...
  6. Kane love

    Star up Loan

    Hello, I'm currently applying for a business development loan, and I must admit the entire application is quite stressful for me due to the sheer volume of questions. I feel like I've done something wrong. However, let's focus on the most crucial question: I have a meeting with an official soon...
  7. D

    Barclays unable to show personal guarantee

    Saw a similar thread on here a few years back, but this is slightly different. I took a £4k business overdraft out in 2015 with Barclays and agreed to a personal guarantee. In 2017/18 I extended this to £12k In 2020 I extended this to £49k. By 2020 (and I am pretty sure in 2017) I had...
  8. G

    Is this just a pipe dream?

    Hello, Looking for some advice. Basically, I'm going to find myself unemployed in a matter of days, with nothing else lined up in the immediate future. I'm applying for work but I've been toying with the idea of starting my event production service (I have over 10 years in the industry and the...
  9. X

    Share Capital vs Director's Loan

    Hi everyone, In the process of setting up a limited company with one shareholder - myself - and wondering how to best invest in it. Came across two approaches, share capital and director's loan, and would be keen to get some advice from you on which one would be sensible. First option would...
  10. E

    Sole Trader and business loan

    Hi My partner started up a hire business as a sole trader. She have taken a £45k loan out. She is paying it back monthly The income she get from hiring, do you pay tax on the whole lot or just the income left after paying the loan back? Thanks Elliott
  11. J

    Business loans/ credit cards

    Hello everyone. Business is finally starting to get set up and I’m looking for the best places to get things like business loans/credit cards or grants from. The business is yet to start trading and is only just been registered. Any help is appreciated. Thank you
  12. Raising finance webinar: Why you need a plan and a purpose

    Raising finance webinar: Why you need a plan and a purpose

    What are the different types of business funding and what’s most suitable at each stage of your startup’s growth? Small business funding expert Mark Jones answered your most common questions in our raising finance webinar. Mark Jones, CEO of Fit Out Finance and UKBF regular, brought over 30...
  13. Recovery Loan Scheme deadline looms – here’s what you need to know

    Recovery Loan Scheme deadline looms – here’s what you need to know

    Businesses have two weeks left to apply for the government’s Recovery Loan Scheme (RLS), which enables firms affected by the pandemic to access loans of up to £2m. The current deadline to apply for RLS is Thursday, June 30, 2022. However, the Financial Times reports that the government is...
  14. Government grants, support and funding for small businesses

    Government grants, support and funding for small businesses

    As UKBF members know well, starting and growing a business can be extremely challenging. But support, advice and funding are available – if you know where to look for them. In this guide, we’ve rounded up all the places where you can access support from government and government-affiliated...
  15. M

    Lending money to limited company for leasing car

    Good afternoon. I recently started limited company, as being a new company it is challenging to find a leasing company that will accommodate. I have the personal funds available to lend to the business in order to pay the full leasing term in one payment (still waiting back to hear if this...
  16. M

    How do i pay Loan?

    Hi All 3 years ago, the company i got a loan from went into liquidation. After doing loads of searching, i found out the company director had set up a new loan company, so i emailed him directly and set up my repayments as normal to the new company. Fast-forward to the present and my last 2...
  17. What to do if you can’t pay back your bounce back loan

    What to do if you can’t pay back your bounce back loan

    The Bounce Back Loan Scheme (BBLS) was established by the government to provide financial support to UK businesses that were losing revenue or experiencing disruption to their cash flow as a result of the pandemic. It allowed lenders to provide a six-year term loan of between £2000 and £50,000...
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