how to get a loan out of ulster bank

beaver111

went to look for a loan to day for 3 grand. small money really, i just started on a back to work enterprise scheme reg for tax and now self employed told me based on what i was getting from the scheme i couldnt get the loan,what happened to the day when the bank would look after the small business man or woman disgusted i am:mad:

unclebill98

You don't meet the lender criteria, simple.

If your self employed you would have to go through the business banking section, so if you went in as a personal custome you would have been declined on that basis. You could try the business banking end however I seriously doubt they entertain it either.

dublin daz

I know from experience (small overdraft - renewal rigamarole) with Ulster Bank they're tight on credit now, and I cant really blame them with the bad debts they have etc.

Try another bank or the Credit Union.

chris85

beaver111 wrote: »

went to look for a loan to day for 3 grand. small money really, i just started on a back to work enterprise scheme reg for tax and now self employed told me based on what i was getting from the scheme i couldnt get the loan,what happened to the day when the bank would look after the small business man or woman disgusted i am:mad:

Your sense of entitlement to money from the banks is hilarious. As a self employed person you should be completely aware of the financial position of the banks and broader economy.

Also I work full time earning a decent wage and €3k aint small to me. Suprised it is to anyone, let alone a self employed person on work enterpprise allowance.

Anyways its important whether you are applying as a personal or business customer. As a personal customer you would be tested on your income and other criteria. The income from work enterprise scheme is limited and thus you may not qualify for the loan.

As a business customer you would be assessed on your cashflow as well as possible business plan for the business and forecast ahead. I have had a friend get a large amount for a business based on his meticulous business plan with every detail planned and researched and stress tested. They are lending but to the right people.

dave98

my brother had same problem, went into the credit union last fri evening and they gave him the cheque on the sat!

BuffyBot

having had to delete posts from this thread, I'd like to remind everyone that politeness is not an optional extra on this forum..

unclebill98

dave98 wrote: »

my brother had same problem, went into the credit union last fri evening and they gave him the cheque on the sat!

Would your brother have gotten the loan based on being a personal applicant rather than a business applicant?