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yeoman3d
22-11-2004, 08:26 AM
How does one raise capital to start off a business?And if taking a loan,where does one go to,what kind of loan does one take,and what kind of documentation would be expected of one to produce?In order to get the loan.And would loans only be given for some specific business proposals?

Statler
24-11-2004, 10:27 AM
Hi,

The two most popular ways to fund a business are with your own savings, and with the help of family members and friends.

With regard to loans, much of what you have asked will depend on the loan provider, eg a high street bank, a local business support organisation, etc. Business bank loans can usually be used for virtually anything connected to your business; whereas loans from enterprise agencies, etc, will generally only be given for a specific purpose, eg advertising and marketing activities.

The key to securing funding is a thorough, well written business plan. You need to make your business look as attractive as possible on paper, whilst at the same time being honest with your financial projections.

You may find the following information on the Business Link website of use:

http://www.businesslink.gov.uk/bdotg/action/sitemap?r.l1=1073858790&topicId=1073858790

Lee