More banking, what about overdrafts?

[davidd]

We have been running for nearly 5 years, turning over about £500k (growing slowly).
We have never been in the red, but have a £10k overdraft just in case.

We have been making some changes and therefore there is a slight chance we may go into the red to the tune of £30k over the next few months.

I have done some very realistic forecasting, prepared a brief business plan to explain what we are doing, why we might need the cash and the future business direction (more cash, more profit).

The problem is that whilst my manager can easily give me £10k with no guarantees, ifI want up to £25k then I need to give personal guarantees and if I want more then they want my house or debenture on the business (which is fine but a lot of effort).

My issue is not really that I might have to underwrite it myself, it is that we have been good customers, we tell the bank what we are doing and so I would have thought that they could give us more without us jumping through hoops or incurring legal fees.

I asked what would happen if I could get a £20k od from another bank without PGs, he smiled and said that would help him help us.

So I need to know what other people get, the hoops you have had to jumop through to get your overdraft.

I appreciate you might not want to discuss figures on here, so email would be splendid.

Thanks

David

[POORCARDEALER]

HSBC will give up to 35K IRRC without PGs, anymore and they want the world