Hello
Myself and family have set up a small ltd company primarily to supply consumables to the catering industry. We have invested 25k and are seeking another 50k to start up. We have already applied with full business plan and accountant verified cash flow to the AIB business
banking. They have been procrastinating and have the plan for the last two months not returning calls etc. Our family have been banking with them for the last 40 years and have an excellent credit record. After an irrate phone call they have approved a loan of 20k which I have to go guarantor on. This seems to me like a personal loan with different interest rates etc.
I am not used to business banking so now we have decided to pursue other banks out of pure annoyance at the delay. What other funding avenues are available? We are seriously thinking about transfering all of our accounts to a different bank, is this a rash move?
Is there a credit freeze going on, and is it wise to take personal loans out to fund business ventures?
Thanks
Myself and family have set up a small ltd company primarily to supply consumables to the catering industry. We have invested 25k and are seeking another 50k to start up. We have already applied with full business plan and accountant verified cash flow to the AIB business
banking. They have been procrastinating and have the plan for the last two months not returning calls etc. Our family have been banking with them for the last 40 years and have an excellent credit record. After an irrate phone call they have approved a loan of 20k which I have to go guarantor on. This seems to me like a personal loan with different interest rates etc.
I am not used to business banking so now we have decided to pursue other banks out of pure annoyance at the delay. What other funding avenues are available? We are seriously thinking about transfering all of our accounts to a different bank, is this a rash move?
Is there a credit freeze going on, and is it wise to take personal loans out to fund business ventures?
Thanks