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Business loan will impact ILR visa???

Only for queries regarding Indefinite Leave to Remain (ILR). Please use the EU Settlement Scheme forum for queries about settled status under Appendix EU

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nani9
Junior Member
Posts: 97
Joined: Thu Jul 07, 2016 1:12 am
India

Business loan will impact ILR visa???

Post by nani9 » Mon Jul 03, 2017 2:46 am

Hi Zimba88

I have a quick question please,
My tier1 entrepreneur extension approved in January 2017 and applying for ILR in January 2019 through 5 years route.last month my bank offered me the business loan of £25k and I agreed for that,the money credited into my business account and used the money for business expansion only.
I'm bit worried now, is allowed to draw down business loans in tier1 entrepreneur extension or not. It will impact my ILR in 2019, please let me know

Thanks

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marcnath
Moderator
Posts: 6493
Joined: Tue Jul 03, 2012 3:27 pm
Location: Milton Keynes
United Kingdom

Re: Business loan will impact ILR visa???

Post by marcnath » Mon Jul 03, 2017 6:25 am

nani9 wrote:Hi Zimba88

I have a quick question please,
My tier1 entrepreneur extension approved in January 2017 and applying for ILR in January 2019 through 5 years route.last month my bank offered me the business loan of £25k and I agreed for that,the money credited into my business account and used the money for business expansion only.
I'm bit worried now, is allowed to draw down business loans in tier1 entrepreneur extension or not. It will impact my ILR in 2019, please let me know

Thanks
It will not
My comments are in no way meant to be advisory. I have no professional knowledge of immigration. These are based on my own experience, convictions and personal interpretation of publicly available information.

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zimba
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Posts: 21938
Joined: Mon Aug 11, 2014 6:13 pm
Location: UK
Mood:
United Kingdom

Re: Business loan will impact ILR visa???

Post by zimba » Mon Jul 03, 2017 3:00 pm

Tier 1E rules do not prevent you from doing business or getting loans :?
Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice

crazy_ram
Member
Posts: 130
Joined: Mon Jul 16, 2012 11:52 am
United Kingdom

Re: Business loan will impact ILR visa???

Post by crazy_ram » Sun Jul 09, 2017 2:27 pm

In my opinion your business loan should not have any negative impact on your application. Most of the business needs additional funding naturally in addition to the ownership funding. If your bank offered means that they should have found your business financial performance is good, which is a positive thing on genuinity grounds.

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