Business Loan

Hello Friends,

NEED YOUR HELP!

I had applied for the loan for my business . My investment is 40k and rest of the 40k applied for loan. But bank says if you need a loan we can give you as per visa expiry date and my visa valid for 18 months. i told them i am buying a franchise on 5 year contract so why don't you offer me a loan on 5 years repayment plan.

My question is Does any one applied for business loan ?

or which bank can offer a loan on 5 years term on entrepreneur visa?

Need Advice and waiting for your prompt reply.

Thanks

Could you please let uw know which Bank did you apply loan for?

taking a business loan in UK will not qualify as an investment imho for Ent Visa. coz the whole point of Ent visa is for UK to attarct investment from oversees.

rizarifpk123456 wrote:Could you please let uw know which Bank did you apply loan for?

HSBC Bank

n8net wrote:taking a business loan in UK will not qualify as an investment imho for Ent Visa. coz the whole point of Ent visa is for UK to attarct investment from oversees.

Hi,

As per my visa i have to invest 50k and i am investing 50k from my side and looking for some more money in the business.

ANY IDEA!

@n8net is completely wrong in his point. That loan cannot qualify as an investment. It is mentioned in the policy guidance that money can be invested thorough a loan from any bank. However that loan should taken on the personal account.

Business loans are negotiable and repayments can be negotiated as well because they are for business and it depends how well your business is doing your tax returns, turnover, nature of business and sepcilly bank will look at risk factor to calculate tge repayments plan.
This is the reason that bank won't agree to give longer instalment plan than your visa expiry date, as it involves risk and probability of whethee your visa will be renewed or not.