# Advice on Buisness Loans



## craig06typer (Oct 11, 2008)

Where can we get decent advice on buisness loans from?
Do the highstreet banks do this sort of thing and would this be the best route to go down?
Are they any schemes or things that can help out with this type of thing?
We ( me and GF) are 23 will this make any difference?
Thanks
Craig


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## organgrinder (Jan 20, 2008)

It all depends what the business loan is for. If you have a business bank account already then you should have some form of business manager.

All the high street banks will give business loans for projects they consider to be workable. However they often want personal guarantees or security over assets, even for existing businesses so new starts have a tougher time.

There are a few alternatives you could try. You are still young enough to obtain a grant or loan from The Prince's Youth Business Trust (PSYBT in Scotland and I presume PYBT in England) and this is probably the easiest route for smallish sums. 

There is also money available from your local Enterprise Company either in loans (at premium rates of interest but cheap if the alternative is no loan), start up grants, 50% of a computer and assistance with business plans and marketing. The exact deals depend on what area you are in but this would be my starting point since they can provide all types of assistance.

There is also a scheme called Small Firm Loan Guarantee Scheme which is a loan through a bank for people who can't otherwise get a loan because they haven't got the security. Basically the Government guarantee 75% of the loan if you default on it but again you pay a premium in interest and you also have to show the bank through business plans and projections that the project is worthwhile.


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