getting a loan on a tier 1 visa

[khero777]

hello
i m planing to switch from a tier4 visa to tier 1 entrepreneur. i m just wondering if we can get a loan on a tier 1 visa? because i have 500k startup by my investment total cost is 1 millions ....would the bank land me money on a tier 1 visa ? thank you

[samaygrg]

have you checked your eligibility for this??

[samaygrg]

I just read this in the guidance, I suggest you to go through the guidance and eligibility requirement first

Switching from Tier 4/student routes
29. If you are in the UK with permission to stay as:

▪ a Tier 4 (General) Student;
▪ a Student nurse;
▪ a Student; ▪ a Student writing up a thesis;
▪ a Student re-sitting an examination;
▪ a Postgraduate Doctor or Dentist;
▪ as a Tier 4 (Child) Student.

You can only make an initial Tier 1 (Entrepreneur) application in the United Kingdom with access to not less than £50,000 from:

1. one or more UK Seed Funding Competitions, listed as endorsed on the Department for
International Trade (DIT) pages of the GOV.UK website, or

2. one or more UK Government Departments, or Devolved Government Departments in Scotland,
Wales or Northern Ireland, and made available by the Department(s) for the specific purpose of
establishing or expanding a UK.

3. UK Trade and Investment (UKTI) was absorbed in to the newly formed Department for International
Trade (DIT) in July 2016.

[zimba]

Tier 4 students cannot switch to Tier 1E unless your investment comes form specific sources.
Read the guide: https://www.gov.uk/government/publicati ... trepreneur

[noajthan]

hello
i m planing to switch from a tier4 visa to tier 1 entrepreneur. i m just wondering if we can get a loan on a tier 1 visa? because i have 500k startup by my investment total cost is 1 millions ....would the bank land me money on a tier 1 visa ? thank you

Unrealistic.
And no need for repeated multiple posts.

[seasky]

As a tier1 ent (no matter how you got into the route) you need to build a business (or expand a business)

There is no limitation at all to take a loan to build your business as per HO rules. If a bank will give you a loan it all depends on normal business decisions, the fact you are on a temporary visa might affect their decision. If you have a strong business case, a strong equity position and strong collateral there is no reason to assume you won't get a loan.

Typically startups raise equity not debt (again goes to the type of business)

This forum seems to be full of "entrepreneurs" doing the absolute minimum per guidance and running low value businesses that adds no value to the UK economy (in fact it is negative value). If we assume you are the same it is laughable that you will get a bank loan. If you are different and have a really interesting business, a large source of equity a strong background etc you could get a bank loan.

My business is technology development (a classic tech startup) and we do not have debt as banks don't tend to loan for development. I have equity investors.