loans/financial help for small business expansion

Discussion in 'General Business Forum' started by poodle16, Apr 18, 2012.

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  1. poodle16

    poodle16 UKBF Newcomer Free Member

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    Hi,

    Im new to this forum and dont know if im posting in the right area. Hope the admin will move this if im wrong.

    I have a studio in the yorkshire area and am looking to expand. The premises im in at the moment have become too small. I was expanding into the flat above, but due to building regs this is not viable. I rent the shop and have been here over three years.

    I employ two people as well as myself and a trainee, i also offered laser removal but due to issues im not allowed to use this unless it has its own private room. I have seen a property for 60k which is more that excellent for what i need, my laser would have its own room. I have been to banks (i have a old ccj for 2,5k), asked family and friends, remortgaging (not enough equity), begged, asked the european union, funding circle, asked the owners to rent it to me, the only thing I havent tried is protitution.. all the others are fruitless.

    If i move, i would be able to employ two more people, if i dont move i will have to let my trainee go. I am turning away around 200 pounds of lasering every week, and i havent advertised it properley yet. Plus, i am unable to expand my business as i wish to.

    Any advice welcome, grants, dodgy money lenders, investors, im looking for 60k over 10 years with a decent return. Many thanks.
     
    Posted: Apr 18, 2012 By: poodle16 Member since: Apr 18, 2012
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  2. Charleston_Financial

    Charleston_Financial UKBF Newcomer Full Member

    23 6
    Good Afternoon,

    If you would like to discuss mortgage possbilities, you are more than welcome to call us on 01442 215 527 (freephone 0800 612 3167) and we can go through the criteria that commercial lenders are looking for.

    Best Wishes
     
    Posted: Apr 18, 2012 By: Charleston_Financial Member since: Apr 17, 2012
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  3. poodle16

    poodle16 UKBF Newcomer Free Member

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    thanks, will bear you in mind, but have spoke to a few financial advisors who either want a huge deposit, theres not enough equity in the house or wont touch because of my ccj..:(
     
    Posted: Apr 18, 2012 By: poodle16 Member since: Apr 18, 2012
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  4. Charleston_Financial

    Charleston_Financial UKBF Newcomer Full Member

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    ok no problem, what level of deposit do you have at the moment ? and what type of business do you run?
     
    Posted: Apr 18, 2012 By: Charleston_Financial Member since: Apr 17, 2012
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  5. poodle16

    poodle16 UKBF Newcomer Free Member

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    whats your name and what time are you in the office until? i may ring u, to see what you have to say :)
     
    Posted: Apr 18, 2012 By: poodle16 Member since: Apr 18, 2012
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  6. tony84

    tony84 UKBF Big Shot Free Member

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    There are lenders other than banks who may be more willing to look at you.

    You also presumably have accounts, it may be that you can look at a commercial mortgage.
    It would be interesting to see what the other advisors you spoke to looked at as you seem to have a pretty viable business - you didnt just speak to bank "advisors" did you? They can only offer you their own products and not look at everything on the market.
     
    Posted: Apr 18, 2012 By: tony84 Member since: Apr 14, 2008
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  7. tony84

    tony84 UKBF Big Shot Free Member

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    As you already seem to have thought about (not that im saying you are a prostitute...i have a habbit of putting my foot in my mouth so most people tend to ignore me now)....open up the upstairs as a brothel.

    You can have hair, beauty and "Sauna". Atleast men wont be embarassed about leaving your premises :D (having never visited one, im only presuming they get embarassed)
     
    Last edited: Apr 18, 2012
    Posted: Apr 18, 2012 By: tony84 Member since: Apr 14, 2008
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  8. poodle16

    poodle16 UKBF Newcomer Free Member

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    pmsl Tony.. it is a thought re: the brothel upstairs, i think a lot of the women in this area, offer their services for nothing so alas.... lol :D

    re: the first post, the financial advisors have been a mixture of independents and fixed. The problem is the banks are very black and white, my case is a bit varied and having a ccj, its not a high street issue.
    I have accounts which are up to date.
     
    Posted: Apr 18, 2012 By: poodle16 Member since: Apr 18, 2012
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  9. tony84

    tony84 UKBF Big Shot Free Member

    5,922 1,104
    Sounds like most of Manchester! ANDDDD Ive saved the trainee from losing her job - how good am i, she might not like the new job but im sure i would love it :)

    Are you a ltd company or a sole trader?
    Your last set of accounts are they for 2011? or if your Self employed do you have SA302s?

    If your a ltd company, is the CCJ a personal one (ie against you) or a business one (against your company). These questions might be too personal for a public forum but how much is the CCJ for and has it been satisfied yet?

    If you dont want to answer thats fine but on the face of it, its not an easy task but it seems like their might be some different options available. It seems strange that an Independent advisor cant find a way round it for you so they may possibly have found something that hasnt been mentioned on here but i would maybe speak to another independent advisor.
     
    Posted: Apr 18, 2012 By: tony84 Member since: Apr 14, 2008
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  10. Charleston_Financial

    Charleston_Financial UKBF Newcomer Full Member

    23 6
    Hi,

    I am in the office until 6:30 most days, and the number is 01442 215 527 ask for me, James Hardwick and I will see what I can do, we deal secondary lenders as well who may be more open minded than your standard high street bank.
     
    Posted: Apr 18, 2012 By: Charleston_Financial Member since: Apr 17, 2012
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