Business banking

[jhw333]

Currently setting up a new business, we think we will require mid term finance at around 12-18 months after incorporation date to grow at the rate we want to.
Who would be the best bank to go to currently for this?
(I know a lot of things can happen in the next year and a half, so probably a pointless question.)

[HenryJM]

Well it depends on what is needed, if you have the money then a bank will be happy to lend it and secure against your assets, if you don't have it then a bank is highly unlikely to lend it to you.

[williamp]

With sme you will need a full business plan plus other details. They might expect you to put, say 50% of your own funds in, and they would match it.

There might be other sources of funding. are you under 30? Is it innovative??

[Jasandjules]

jhw333 said:

Currently setting up a new business, we think we will require mid term finance at around 12-18 months after incorporation date to grow at the rate we want to.
Who would be the best bank to go to currently for this?
(I know a lot of things can happen in the next year and a half, so probably a pointless question.)

Your accountant may have a preferred bank?

[HenryJM]

williamp said:

With sme you will need a full business plan plus other details. They might expect you to put, say 50% of your own funds in, and they would match it.

There might be other sources of funding. are you under 30? Is it innovative??

Well obviously all sorts of things can happen, but in the main you can borrow loans that are guaranteed but borrowing money as a new business with any substance that is not guaranteed isn't likely to happen. At least that's from a bank.