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    1. reqquetta is offline

      Join Date
      Sep 2011
      United Kingdom
      United Kingdom
      0 Times in 0 Posts

      Funds needed - How to raise credit in the UK?

      Hi guys,

      I am currently looking for anyone who can help with a loan of £3000 to start my business off. l have tried looking for loans, but they all ask for an up front fee and l paid some of these companies and never get anything out of it.

      So am stuck and don't know who turn to now. Well my friends and family can't give cause they have other commitments.

      Help for any information on who to turn to or ask.
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    2. WholesaleMod's Avatar
      WholesaleMod is offline

      Join Date
      Dec 2010
      United States
      United States
      438 Times in 390 Posts
      Hi Reqquetta,

      You should consider applying for a credit card that offers a 0% introductory rate for the first months. This should allow you sufficient time to buy stock, resell it at a profit, and pay back your loan without ever having to pay any interest on your debt.

      Now is especially a good time to start reselling because we are very near to Christmas, which in many sectors accounts for up to 75% of total yearly sales. Therefore you should be able to pay back your debit with your turnover before the 0% introductory rate expires.

      In the unfortunate event that you should be unable to pay back your loan within the 0% interest period, you could consider applying for a second 0% introductory rate credit card that also offers 0% interest on balance transfers (or at least an introductory interest on balance transfers that is lower that your first credit card's regular rate - read terms & conditions of the credit card company for details). That way, even if your turnover within the free credit months is insufficient to repay back the entire £3,000, you may still benefit from 0% or low interest rates on your remaining debt, and pay it back once you have resold your entire stock

      Hope this answers your question

      Of course it is also very important that you conduct sound market research. Read the following thread for details:


      Also, since you are in the UK, try a service like Wholesale Deals UK - Wholesalers, Dropshippers, Importers & Distributors Database | Home | to find profitable deals to sell online instantly.
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    3. paddym79 is offline

      Join Date
      Jan 2013
      United Kingdom
      United Kingdom
      0 Times in 0 Posts
      it depends you can try job centre plus there is possible funding there also try checking your local council website as that to is a good place to look for funding too

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