Online 12 loans?

[Levi1989]

I am wondering if anybody knows of any safe 12 month loan companies online or that can be trusted?

basically as I have just started trading in digital printing I have been using another company to print most of my work and made a mark up but I could double my profits with a new digital printer which is minimum £600 + ) so I would need this minimum really.

there are so many sites that want perfect credit history or secured against a home (I dont own my home)

Maybe a shot on the dark but wondered if anybody on here had any experience of a loan when they started up there small business.

I dont mind the apr being to high as long as it isnt stupid. Just dont know which sites can be trusted at all.

 

[Frank Nesbitt]

Instead of taking a loan why don't you consider leasing or renting a digital printer. I am sure there are plenty of Office Equipment suppliers in your area...Good Luck..Quo Vadis..Frank

 

[Levi1989]

Title should be *12 month loans*

@Frank Nesbit, Cheers for the reply mate, sounds a good idea but I'd also put the money towards the new website and a couple of other small business related things so was hoping to cover everything with the printer being the main.

 

[Frank Nesbitt]

Well, I suppose you could try sites such as Wonga but the apr is horrendous. Better still why don't you go along to your bank and ask for a personal loan. Am sure if you give them a good enough and plausible reason you would secure under a grand no problem especially if your account has been in good order (not constantly overdrawn). Small personal loans are generally acceptable to the banks (better then seeing an account go overdrawn).. Good Luck..Quo Vadis..Frank

 

[shadesofblue]

Well, I suppose you could try sites such as Wonga but the apr is horrendous. Better still why don't you go along to your bank and ask for a personal loan. Am sure if you give them a good enough and plausible reason you would secure under a grand no problem especially if your account has been in good order (not constantly overdrawn). Small personal loans are generally acceptable to the banks (better then seeing an account go overdrawn).. Good Luck..Quo Vadis..Frank

I think the days of a bank manager making a judgement on your business plan and reasons for wanting a loan went out in the 80's didn't they.

If computer says no, bank manager says no.

 

[Liybpg]

As far as I know personal loan cannot be taken out for a business (although this might be my bank only). If you are taking a personal loan they will ask a reason for the loan; you can be a bit more vague and say that it is for technology / IT, but you might be potentially in breach. It is good to check T&Cs before going to your bank.

Also, not sure if OP is working, but bank is likely to decline the loan if no salary is received into the account. But again, worth checking.

shadesofblue, true, but in case of personal loan they won't be looking at the business plan, but will be looking at the account history.

 

[businessfunding]

There are a few which advertise on daytime TV ('nuff said).

At your stage I wouldn't worry about APR - I would worry about how / whether you can make repayments.

In reality I would investigate any possible way of doing this from your own (or family) resources, including selling your stereo / car / trainers / grandma.

 

[Deleted member 27344]

£600? Stick it on the company credit card. That way you'll not be stung by the loan charges.

 

[tony84]

Have you looked at social lending type sites?
http://uk.zopa.com/ - just an example.

Ive never used them but hear good things.

 

[Moneyman]

credit card. ok apr 30% but if you pay it down asap it is servicable and you avoid all the extra fees.

 

[ITsoldUK]

Title should be *12 month loans*

@Frank Nesbit, Cheers for the reply mate, sounds a good idea but I'd also put the money towards the new website and a couple of other small business related things so was hoping to cover everything with the printer being the main.

All that for £600?

Glad you said minimum...

Good luck with your search

 

[Maxwell83]

£600? Stick it on the company credit card. That way you'll not be stung by the loan charges.

Just a guess, but it's unlikely he has a company credit card - if he had a bank willing to give his co any credit he probably wouldn't be here asking where he can get a loan with a high APR for people with bad credit…