Getting a loan to start a new business?

The bank's main concern will be: can you repay the loan (and what security can you offer)? They will want a detailed business plan with sensible cashflow projections, evidence that you have researched this hugely competitive market, who your customer base will be, possible suppliers etc and full information on how any loan would be used.

Bank loans are expensive. My suggestion is to start small. Do not take on huge expenses. Do not work to pay bank loans. If you absolutely must take a loan because you need a shop then consider remortgaing your home. The interest rate is a lot lower.

Alternatively I can coach/ mentor you on how to start making money through the kind of business you are thinking off. I will coach you on something I term 'Just in time Business'. It is a bit complex; it requires creativity and wisdom. But you can start to establish yourself in this way. You will only need a minimal amount to kick start your project and an ecommerce website representing your business interest. No need for warehouse or shop at this stage. Just determination to be successful in your children's businesss.

Banks in the UK are not lending to established businesses let alone new ones. I had a bank loan through Lloyds but had to put my house up for security. I had masses of equity, so they could have repossessed if my business failed. They will need a valuation on your property, a business plan, and they will expect you to have some sort of business experience. They do credit checks and will want to see at least 6 months of bank statements.

Hope it works for you.

UK

I started a hebrew Learning company for my wife who is fluent in the language

She writes books, instruction materials, etc.. and teaches others in class

So it's not that bad

I even know some hebrew words like 'love you'

'where is food'

'don't hit me'

'thank you'

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