no help out there

barry333

refused refused refused:mad::mad::mad: thats the reply i have being getting from banks credit unions and micro finance companys ,i have a great business idea ,i have done every course known to man,the backing of everyone out there,the business plan and figures are perfect and has being checked by enterprise board, social welfare,community development,and some mentors and good business people in the area ,and still those f****** banks:mad: will not help me with a start up ,its only 7000 euros,if you were looking for a car for 15,000 they would give it to you because they will screw you ,how the hell is the country going to get back to normal
is anyone else have this problem ? or can any help me ? and piont me in the right direction
cheers

patftrears

barry333 wrote: »

refused refused refused:mad::mad::mad: thats the reply i have being getting from banks credit unions and micro finance companys ,i have a great business idea ,i have done every course known to man,the backing of everyone out there,the business plan and figures are perfect and has being checked by enterprise board, social welfare,community development,and some mentors and good business people in the area ,and still those f****** banks:mad: will not help me with a start up ,its only 7000 euros,if you were looking for a car for 15,000 they would give it to you because they will screw you ,how the hell is the country going to get back to normal
is anyone else have this problem ? or can any help me ? and piont me in the right direction
cheers

Put the head down get a second job and you can start your business in the new year with the 7k you saved. Good test to see if you have the determination to run your own business.

If you say the business plan, figures are perfect, hate to tell you but the only other variable is you. Obviously they don't think you have the skills experience to run the venture

Get on one of the enterprise platform progammes http://boards.ie/vbulletin/showpost.php?p=57532271&postcount=22 they will give you fast track access to CORD funding, free office and better training.

It's not easy starting a business, you're not entitled to anything from anyone, even if you did get the 7k, that is the easy part. The real problems hard work come in developing a successful, sustainable business.

The banks are lending to start-up, know lots who got loans.

bacon?

patftrears wrote: »

Put the head down get a second job and you can start your business in the new year with the 7k you saved. Good test to see if you have the determination to run your own business.

If you say the business plan, figures are perfect, hate to tell you but the only other variable is you. Obviously they don't think you have the skills experience to run the venture

Get on one of the enterprise platform progammes http://boards.ie/vbulletin/showpost.php?p=57532271&postcount=22 they will give you fast track access to CORD funding, free office and better training.

It's not easy starting a business, you're not entitled to anything from anyone, even if you did get the 7k, that is the easy part. The real problems hard work come in developing a successful, sustainable business.

The banks are lending to start-up, know lots who got loans.

that sucks dude, i thought that's why we bailed these crooks out... so they would start lending again.

Bogger77

bacon? wrote: »

that sucks dude, i thought that's why we bailed these crooks out... so they would start lending again.

we bailed them out so they'd responsibly lend again, not just throw the money out like before.

bacon?

Bogger77 wrote: »

we bailed them out so they'd responsibly lend again, not just throw the money out like before.

totally agree... but sounds like the op's pretty responsable... it's only 7k.

515

Have you considered a private investor? Maybe one of the mentors/business people you spoke to know someone... Maybe an ad in buy and sell will find someone... I assume as it's such a good idea there will be enough to share with someone, and that someone might bring extra skills to the table.

Even when times were good banks wanted personal guarantees and collateral for business loans. Private investors / business angels are worth considering.

Have the Enterprise Board been able to offer you any grants?

suey71

Op have you considered First Step.ie

If you have a good Business Plan and have been refused a loan from other financial institutions, then I'd say look here. I think its run by the Smurfits, so it has a good rep. They specialise in Micro Finance up to 25,000euro so i'd say they're right up your alley.

Google the above and check it out.

Best of look.

mark renton

If you like you could pass me on your business plan and I would consider investing

stepbar

john47832 wrote: »

If you like you could pass me on your business plan and I would consider investing

Or stealing his idea, eh? :rolleyes:

OP, I suspect that the business plan is not quite as good as you think. The business idea is probably not that great either. The entrapreneur is not best placed to decide this as they are too closely place to be able to make a rational decision. In fairness, 7k is not a major sum and I find it very strange that you are being refused. I suspect it's for the reasons mentioned above.

fergalfrog

stepbar wrote: »

Or stealing his idea, eh? :rolleyes:

Have you an basis for making such an allegation? If everyone thought like that there would never be anything that got investment!

barry333 - are there any friends or family who would invest some or part of the 7k. The less you have to borrow off the bank the better. Present your business plan to people (like john47832) who have cash they are looking to invest.

Stay positive - if it was simple everyone would be doing it.

TheCostumeShop.ie: Ronan

Its true the banks are being choosy with who they lend too,but there's serveral ways you can circumvent this. None are idea, but very little about business is ideal.

1. Consider getting a car loan. They will approve that easier and no you don't actually have to buy a car. All they care about it that you will be able to repay it.

2. Get an investor, yes the money is small in terms of an investment and early stage investment will mean giving up what might seem like a lot of equity in terms of your opinion of what the idea is worth, but its high risk. Also you could find someone with good experience in your sector and they will bring far more to the table than cash in terms of experience.

515

Can you tell us what sector the business is in? How high is the risk?

niceirishfella

suey71 wrote: »

Op have you considered First Step.ie

checked that site you refer to Suey. It's just a mortgage/financial co site?
Do you know the right link.........Interested myself..
Thanks.

MrsJohnMurphy

niceirishfella wrote: »

checked that site you refer to Suey. It's just a mortgage/financial co site?
Do you know the right link.........Interested myself..
Thanks.

http://www.first-step.ie

mjm

niceirishfella

MrsJohnMurphy wrote: »

http://www.first-step.ie

mjm

ta!:)

barry333

thanks everyone for repy ,im not the onlyone looking theres lots of people like me,the business idea is new and is in online services what is wanted today ,sorry cant go into detail ,but anyone with 15k could start up within a month pretty easy,plus first step are a joke i know 10 people that were refused thanks again .......when i get the money you will know about it pretty quick and will us the services ......

Hmmm, maybe. But only if there are no grammatical errors on the site !

TheCostumeShop.ie: Ronan

It's quite possible with online things that someone in the business (like myself) could help you trim back that 15k and point you in the direction to get up and successful faster. If you want to PM me info on the idea i'll give you some advice.

I know this is a big problem at the moment. Myself and a few others are addressing it on twitter so might be worth investigating since your getting into the online business.

http://twitter.com/#search?q=%23outvesting

515

barry333 wrote: »

...but anyone with 15k could start up within a month pretty easy...

This could be your problem. How do you protect your market once you set up?

fergalfrog

Since it's an online service is the 15k to set up a website?

15k would give you a lot of website development so you should be getting at least 3 quotes (better to get 5).

Since money is so precious be very careful how you throw it around once you get moving. Keeping costs/overheads down is as important as anything else.

barry333

15k is the final figure 4k is for website 3k for stock and the rest will go on deliverys and legal etc...... my services will be protected with contracts and have exclusive suppliers to my service only which all suppliers in the market are happy to do,in the first 6 month the service will be in 2 counties and within 1 year after nationwide .