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natalie_laura_beauty

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Anyone have recommendations for business loans with a bad credit history [emoji51][emoji51]

You know how it is beauty girls.i swear make up is an addiction [emoji23][emoji23]
 

natalie_laura_beauty

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For semi permanent make up course/business start yp
 

BannerPenguin

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If you have a bad credit history you'll find it extremely difficult to get a loan unless you have a property you can offer as collateral. IF by some miracle you do get offered one, then be prepared for a huge % APR and high repayments that will make it hard.

Personally I'd save and steer clear of getting into debt before you start :)
 

Beansy

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As above, there are places that will give you a loan with a poor credit rating but the problem is you'll generally have to pay a much higher APR.

If you have a robust business plan then you will be better placed to get a loan. Speak to Start Up Loans UK (info in the thread)-
http://www.salongeek.com/index.php?threads/Start-up-loans.295771/

If you haven't got a business plan, you could approach the Princes Trust (depending on your age!) who will help you do this (they can also open the doors to Angel investment but you can also do this yourself)

Good luck!
 

natalie_laura_beauty

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It's not terrible. Just not great. And I earn the crappiest money. So saving up 5grand isn't easy
 

Beansy

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It's not bad!

Try Startup Loans- you'll get a mentor to help you develop a business plan.
I've never accessed The Princes Trust but I've heard good things!
 

PamieD

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Five grand?!
 

natalie_laura_beauty

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natalie_laura_beauty

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Thank you Beansy so helpful ! [emoji4][emoji4]
 

hazelb

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Are you already trained in make-up/ beauty and want a loan to start a business? or are you wanting a loan to train in make-up / beauty and then go on to start a business?
I don't think either is a good idea. As you will see on these forums it can take 1- 2 years to get a business profitable and be able to start paying yourself a wage, so managing loan payments may well be impossible.

If it's training you need, a business loan wouldn't be right but you may be able to get some sort of student / training lone.
 

natalie_laura_beauty

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I trained in beauty 10 years ago just fed up of shit pay working all the hours under the sun!

I have about 30 clients waiting for brows lol so hopefully fingers crossed it all kicks off. My partner is a tattoo artist so il be in his studio a couple days a week doing a clinic day there. So naturally with tattoos and spmu it all goes hand in hand.

So looking to add another strong to my bow!

[emoji4][emoji4]
 

PamieD

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Oh well that's a different situation, good luck.
 

cmsuper

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Start up loans are good for the start.
 

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