get a business loan

I want to get a business loan so that I can help my kids work their business idea into fruition.

I opened a purified water store and I would like to add a juice bar. Unfortunately, business have been slow. I know that the juice bar would increase my sales.

The loan should take 5 days before it is paid into my account. Obviously i have a while to wait as it’s bank holiday! I’m looking forward to being in credit though. I will take this money and put £3000 of it into savings that have 30 day access. A high interest account and with the rest i will use £649.00 for my holiday to south africa and £500 to clear off my immediate debt and the rest to move out into a house share or move in with my boyfriend depending on whether i decide to move to surrey or stay in doncaster or not.

Apparantely i didn’t pay the fee with them over a year ago, it was with wenworth direct finance. I did get offered a loan at the time, but declined it as my circumstances improved rather drastically. I’ve emailed them about getting a loan now.

They are sending me out my application pack to sign and send back. I have been accepted for the laon and don’t have to pay anything to my knowledge! Excellent. I’m holding out on the yes loans application pack for emergency only!

I need to go in on Friday to sign the papers with Diana Hill- I’ve been accepted to Upgrade to Advantage Gold from my step account. I’ve also applied for a barclaycard and if accepted i will receive that in the post in the next couple of days! This is a step forward on getting my finances under control.

As far at the loan is concerned i’ve applied for a specific business loan and they will get back to me today to let me know what i’m accepted for. After reading some reviews about yes loans, i’m not 100% that i’m going to use them unless it’s worst case senario.

I am very open and discussed this with my partner last night. As expected he was reluctant to agree that this is the path i should go down. After all he thinks that this loan will be an extra hassle along the line.

I believe that it would have been a couple of years ago when i was much less experienced with money handling. However with my current psychology i’m positive that i will be able to pay the loan back consistantly and use the money from the loan wisely.

I am considering going back to them and asking for 5k over 5 years at a lower rate of repayment and seeing what they say.

I’m also considering a barclay credit card just to clear the outstanding £500.00 that i owe to various companies.

Having the option of getting a loan is a big bonus for me business wise. With a loan i can continue with my jobs bringing in around £600.00 over the next year. Not only this but i will be able to work from home half the time on my business, and as my current jobs are not demanding. I should find this much easier than when i was trying to work on my business whilst i was also on a 25 hour a week recruitment job doing business development.

I’m now writing a cashflow plan for the coming months and a projected cashflow and balance sheet for the months that will follow to see whether using a loan for business expenses is a good idea. Afterall like Tony Robbins says, if you aren’t what it takes to achieve the goal then it’s a weak prayer without even the faith to launch it. I absolutely have the passion and desire and neccesary skills and services to make my business successful. I don’t envisage failure at any point. However i do have a contingency in these matters where delay is possible.

Once i’ve done my cashflow i’ll report more on other options. I can then start evaluating which would be best for my current situation.

This is just a contingency plan really. I’m good at managing money when i’m in a good job. It’s just that i don’t have a good financial situation at the moment due to college. I love playing with money, and lets face it we are in debt our whole lifes. Why not use debt as an asset? I’m going to use this 3k. £500.00 to pay off my debts and i intend not to get into anymore. £649.00 for South Africa Trip with my boyfriend and the rest for my business and moving out of my dad’s house. I’m going to use this money as leverage to finance my business abit like a loan. I know 100% my business is going to be successful. The rate i have to pay back is £115.00 Monthly so it’s hardly breaking the bank and that’s over 3 years!