Finance hassle

[Rob D]

It's a struggle Mark and without helpful relatives pretty much impossible to solve without driving yourself into the ground to raise the money yourself....

 

Do you know anyone well enough who'll do a cheap deal on hiring one until you can save a few quid up?

[garth mc garth]

mark if u ever get stuck for a bigger chipper, give me a shout i got 1 or 2 you could hire if need be

[tommer9]

Mark- i may be no use to you, but i think Vermeer were offering a quite good lease on chippers. Huck had the details on one at the aa fair, but it mayonly have been on a big machine. Speak to Jamie at B-Trac (vermeer uk) on 01933274400.

[Mark Bolam]

Thanks mate. Need to get in touch anyway. Need to pick your brains about a couple of things.

 

Off to grovel to close relatives now....

[tommer9]

[Buzz]

Mark seriously get in contact with Ed tomorrow, I can't believe the deals he gets on his kit, you have nothing to lose !!!!

 

As another option look at asset finance i.e. borrowing money against kit you already own.

[skyhuck]

  Buzz said:

[As another option look at asset finance i.e. borrowing money against kit you already own.

 

:confused1:The "asset finance" I have always done has always been secured against the equipment I'm buying.

[skyhuck]

Mark,

 

When I bought my first chipper (chippit 25), I was in the same position. The bank said NO!!.

 

My mum borrowed the money for me and I set up a DD out of my account into hers to pay it off.

 

At the time my wife was very unhappy about me borrowing £8K.

 

It was the single most important business decision I ever made and I have never looked back.

 

Don't give up mate, make it happen.

 

The annoying thing is in a few years time, when you are doing really well the banks will be pestering you!!!

[Arran Woodfuels]

Have you not heard about the Enterprise Finance Guarantee ?

 

In any case, as someone said earlier, you need to produce a good business plan to show investors how the additional capital expenditure will benefit the business.

 

I would most certainly NOT recommend borrowing from a Loan Shark or somebody's mate who knows another guy........

Edited October 1, 2009 by Arran Woodfuels

[Mr Ed]

  Steve Bullman said:

my advise would be to go with a name you know for your finance

 

  Arran Woodfuels said:

I would most certainly NOT recommend borrowing from a Loan Shark or somebody's mate who knows another guy........

 

These comments seem to be in response to my post.

1. Steve -the names you know will not lend in this economic climate. The man has already been turned down and needs another solution.

 

2. I am slightly offended at the insinuation that I might recomend a loan shark or somebody dodgy.

 

I wholeheartedly agree with the idea of borrowing off family, even if you have to pay them interest. However, if he has no other sources, a friend of mine owns this company -

ALG Finance Ltd- Asset Finance

They are a bona fide finance company who have their own book and broker for 3 of the biggest lenders in the UK.