Business Loan Guarantor

[Leelv1]

Hi ,

I am looking for a guarantor, l've been approved for £50K, l am will to pay £5000 or give you some shares .
Thanks in advance

 

[STDFR33]

£5000 in exchange for a £50,000 debt doesn't seem like a good business opportunity to me.

 

[wpmechs.com]

"A guarantor is a fool with a pen."

 

[Paul Norman]

The challenge here is going to be finding someone who believes that the risk they are taking is, in effect, zero. Or close to zero.

Normally, a guarantor, for that reason, will not be forthcoming on a commercial basis.

To taken on a liability of £50k, a person would need to see the accounts of the business, and want to have a some kind of control over its conduct to keep their money safe.

 

[Mr D]

Or have £50K+ in assets transferred or with a charge placed on them.
For £5k its better getting a friend or relative to guarantee it.

 

[Leelv1]

I know it's hard to find one but l am looking for someone who can be a guarantor and l can offer them shares that way they will be a part of the business (more of a business partner really)

 

[Chris Ashdown]

I guess the lender you have is not as sure about your success as you are.

Maybe £5000 spent on lottery tickets will give you your £50,000 and then you don't have to give your shares away

 

[Mr D]

I know it's hard to find one but l am looking for someone who can be a guarantor and l can offer them shares that way they will be a part of the business (more of a business partner really)

And if you run off with the money or otherwise spend the money unwisely how much is their share then worth?

 

[Leelv1]

Mr D, thank you that sounds really good.

 

[Leelv1]

We will sign a contract through lawyers and the company will have involve them in the decision making, or we can you assets for security

 

[Mr D]

We will sign a contract through lawyers and the company will have involve them in the decision making, or we can you assets for security

A contract worth what? Someone else left holding debt of £50k.

If its worth doing with strangers then worth doing with family or friends.

 

[Leelv1]

Worth £38K , but l spoke with Advisor and l can't believe they have agreed to offer me the £50K going tomorrow to sign the paper work . Thanks for the advice guys won't be needing a guarantor anymore. I guess my business plan was strong enough.

 

[happieannemari]

Hi Leelv1,

I see its been a few years since you posted up this message. I was wondering if you had found a guarantor for your business?
I would appreciate any of your knowledge as I am now in the same situation.

Thank you in advance.

 

[Newchodge]

This thread is 7 yeras old and the OP has not been around for that time. I have locked the thread.