Business loans/ credit cards

[Jamie98]

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

 

[japancool]

Track record first, credit cards later.

Got a business plan?

 

[Jamie98]

Track record first, credit cards later.

Got a business plan?

Have a business plan yes and company is already set up on company houses.

 

[japancool]

1) Banks
2) https://www.startuploans.co.uk/
3) Your local council

 

[Nico Albrecht]

If you can't convince the big 3 F's to invest in you why should banks or grant institutions give you money. The 3 big Fs are friends, family and fools.

If you don't have money to start a business or sweet business deals lined up get a 2nd job work your butt of for 1 year and save some money. Take out personal loans and credit cards. This in combination with a 2nd job would get you easily 30k to start with your own money before even borrowing any additional funds.

 

[japancool]

Oh, did you get your license from the council?

 

[Mark T Jones]

As @japancool says, apply to Start Up Loans

The process itself is valuable in that they will assess your business plan and projections and and appoint you a mentor.

 

[Ray272]

Grants can be obtained but from what i saw they take a long time and are industry dependent.

Maybe you can shed some light on the type of business you have created and then maybe more concentrated advice will be provided.

 

[Stuart Bailey]

Contact your local chamber of commerce they will be able to give you info on what grants are available.

 

[HFE Signs]

Your bank will look at risk (to them), they will want to see a strong business plan and some form of security, for example equity in property or some form of personal guarantee. As above, a proven history will also help. Regarding grants, keep in contact with your local council, the big key incentives for grants seem to be based around securing employment, reducing waste and environmental improvements. Good luck, I'm keen to learn a bit more about your business though?

 

[Paul Kelly ICHYB]

If you don't have money to start a business or sweet business deals lined up get a 2nd job work your butt of for 1 year and save some money.

This is one of the best bits of advice - I always give this to startups.

If you have skin in the game and have the potential of losing it, you tend to treat third party money with more respect. It also shows more commitment to the cause.

 

[fisicx]

However….

In this case the op plans to sell alcohol from a council house. The chances of getting a credit card are slim. Even if they do get a license.

 

[japancool]

OP also hasn't been back to check this thread since the 1st.

 

[Mark T Jones]

Your bank will look at risk (to them), they will want to see a strong business plan and some form of security, for example equity in property or some form of personal guarantee.

Though in today's market none of these is likely to happen

If you are really lucky they will run your business plan through a computer model.

They will advance some money if you can provide security which isn't the family home.

They have no interest in PGs from tenants, as they know they are worth diddly squat.

 

[Socio South West]

Your bank will look at risk (to them), and the computer will say no

Correction based on experience

 

[mortonlykins]

Is it possible to get a credit card with cashback for a business? I own a card like this personally, and it would be cool to have one for the company, too, because the cashback sum would be greater.

 

[japancool]

Yes. Google is your friend.

 

[StevensOnln1]

I've had a company Barclaycard that does cashback for a few years, looks like they still do them now.