£5,000 Startup Loan

[Cubik]

Hi,

I'm looking around to kickstart my business, and requiring £5,000 to get started. Any companies you'd suggest looking at?

 

[SFH0791]

You won the lottery mate.

Bounceback loan

2.5%
1st zero repayment
No personal guarantee

 

[Cubik]

You won the lottery mate.

Bounceback loan

2.5%
1st zero repayment
No personal guarantee

Sadly the business wasn't established before March 1st.

 

[Mr D]

Hi,

I'm looking around to kickstart my business, and requiring £5,000 to get started. Any companies you'd suggest looking at?

Not companies no.

Small amount like that I would ask friends and family for a loan.

If you could afford to pay back a lender regularly then you could afford to pay back those as knows you regularly.

 

[Gordon - Commercial Finance]

Start Up Loans - government supported scheme.

Expect many hoops and big jumps.

 

[Mitch3473]

There's a school of thought that a personal loan may suffice but one or two on here would look upon this idea with disdain.

 

[Mark T Jones]

https://transmitstartups.co.uk/ref/fof/

Sorted!

 

[Ian J]

There's a school of thought that a personal loan may suffice but one or two on here would look upon this idea with disdain.

For such relatively small startup funds like this it is traditional to suggest family, friends and credit cards, all of which are effectively personal loans

 

[Darren_Ssc]

There's a school of thought that a personal loan may suffice but one or two on here would look upon this idea with disdain.

You can get a personal loan at about 3% with an instant decision and virtually no paperwork, that sounds like good business to me?

 

[Mr D]

You can get a personal loan at about 3% with an instant decision and virtually no paperwork, that sounds like good business to me?

There is at least one poster on here who finds that to be immoral.
Though she apparently is not involved in other people financial decisions.

 

[RobinBHM]

Any lender to a Ltd will want a PG.

So there's hardly any difference between business or personal loan really.

Maybe you might be best to save up £5k first as the discipline of saving will give you a proper insight into budgeting.

If you have already saved a fair lump and the £5k is to make up some shortfall, then fine, ignore that.