This is my first posting, first of many I am sure.
I have recently set up a new business. I put in for a business loan and made an appointment with bank. They were impressed with business idea and I filled out forms and was told everything should be fine with application and funds should be in the next day. I went ahead and signed lease for shop and ordered supplies. I rang bank a couple of days later when I realized funds were not in account. I was told to come in as they needed more info. I was then only approved for half of what I was looking for. They only gave me start up costs that were showing on business plan.
This has left me in a panic. What am I going to do in January. Shop is fully ready to go but I have no funds left to pay everyone and rent is due first week of January. I am angry with bank and have appealed their decision and this was refused. I am only starting and already I feel that I cannot continue. I am dreading January and the calls that will start for clients looking for payment. I cannot get a personal loan as I have being working on this for months thus having had no wage. any advice on what I can do? Please help..
I have recently set up a new business. I put in for a business loan and made an appointment with bank. They were impressed with business idea and I filled out forms and was told everything should be fine with application and funds should be in the next day. I went ahead and signed lease for shop and ordered supplies. I rang bank a couple of days later when I realized funds were not in account. I was told to come in as they needed more info. I was then only approved for half of what I was looking for. They only gave me start up costs that were showing on business plan.
This has left me in a panic. What am I going to do in January. Shop is fully ready to go but I have no funds left to pay everyone and rent is due first week of January. I am angry with bank and have appealed their decision and this was refused. I am only starting and already I feel that I cannot continue. I am dreading January and the calls that will start for clients looking for payment. I cannot get a personal loan as I have being working on this for months thus having had no wage. any advice on what I can do? Please help..