subject: Start A Business With A Guarantor Loan [print this page] The recession has hit the UK hard over the last couple of years and this month we heard that as a result of the public sector cuts, unemployment has again been rising, and I expect will continue to for a while longer yet. This means that job security is faltering and that people are looking for other means to make an income. One potential option open to people may be to start their own business, and sometimes to do that you need a little extra cash injection. For instance you may need to buy tools, transport or cover administration costs. If you're short on cash but still currently have a regular income then maybe a guarantor loan will be ablet to help you get your feet off the ground.
So where do we start? Well guarantor loans allow you to borrow up to 5,000 over 1-3 years, allowing you to spread your payments for affordability. You can get a guarantor loan even with a bad or degraded credit history and the interest rates in todays terms are fairly competitive. So how do you get one? Well you need a homeowner who is willing to act as a guarantor for your loan to sign the agreements with you, once this is done and everything is checked against and meets the lenders criteria, you should be in a position to get the money.
Once you have the finance, what you do with it is up to you. You could invest in your business idea or reserve some cash for business expenditure further down the line - just make sure that you can meet the repayments each month until you can start generating income yourself. Another thing to consider if this is an option for you is to make sure you get sound business advice and guidance on where to start and go. Although I'm writing this article, I wouldn't endorse getting yourself into debt if your job or income is at risk... Always be sure with what you're doing and have a well written plan to hand to guide you through! Rememember, don't lose sight of your goals!
