How do I get a very large unsecured loan?

[Katymac]

Or maybe a smaller secured one?

I need about £70K to start my nursery

mortgage? re-mortgage?

They won't lend me anymore - due to my income

have you been to business link to see what grants or help can be availbel for a small business or to your bank.......there is usually help available to start a new business,,,the ethical/ green angle might attract interest from big green companies too.......see a business advisor in your area......

you can get business loans...

Natwest need my house to be worth more (valuer coming Wed (cost £225 + VAT)
Abbey don't do loans
Co-op need me to have an account for 3 m before they decide

don't pay for a valuation !!!!! get a local estate agent to come over...say you are thinking of moving..then you get a ballpark figure and know if it worth getting a proper valuation

and see business link!!!!!!!!!

Seen business link & got loads of advise

May ring them again

think you should katy

any sort of mortgage will be secured against your house...if not secured. the interest is likely to be very high

for what it's worth I would advise you to be VERY wary of securing a loan for your business on your home.

We have always said we wouldn't do it. Find other private investors, ask your accountants to look for sources of funds for you, anything but that.

Very good, well-run business sometimes fail, thru no fault of the owners. If you get into business difficulties you can end up with no income, and no roof over your head.
And thats a bl%%dy difficult position to re-launch yourself from.

Please Please think VERY hard before securing your business on your home.

are you spending 70k on a property that you are leasing?

I know I don't want to use the house

But I am getting a bit desperate atm

Yes it looks like it will cost £70 to convert it (well actually £100 - but I have £30)

The bank said they would lend me it....& now they won't

isn't that a bit risky?

erm...yes..isn't all business?

I'm hoping for a 15-20 yr lease

well there is risk and risk, it's an awful lot to spend on a property that belongs to someone else..what happens if you have to close or reassign the lease you will lose it all?

agree with zippi & clumsy

i know how keen you are....but it is not worth rushing this decision

buy a property if you can...and then you have an asset at the end..and the loan can be secured on that. if you can;t buy it. £100 000 is a lot to invest, and be sure of one thing...it will cost more to renovate than you are told or quoted...so add 20 % to what you think you need..

i can't believe there are no grants available to you .....please don;t hurry this.....

I have £30 in cash
I need £80 to renovate plus £20 contingency
I have £20 in cash for operating

I need to borrow £70

I am not rushing - but I do have a fairly tight timescale

How long is it between when you take the loan and you start making a profit? And how long until you pay it back?

Well I am looking for 15 yrs payback
And it all depends how good I am whether I can get enough children

I have 3 booked in already (f/t)

Is there any chance of lottery funding I am sure DD nursery chain got lottery funding?

unless you find a private investor to partner you I can't think of a source if a bank won't lend. There is a loan guarantee scheme but not for that sort of amount. Effectively it's a mortgage without an asset isn't it?

No because we are a private company (or we might be)

I have just found Selective Finance for Investment in England....I might be eligible

DD nursery chain got funding and they were the largest independent nursery chain in Scotland

Having said that it was a couple of years ago so they may not do it anymore, but the grant was huge.

I went to the lottery website & I checked it

No funding
Could anyone look at this for me & check I am eligible?
here
here