I have a decent business idea but need help to finance the project? Anyone know how this can be done?

Question

Could banks lend me any money to fund the project as a loan even though it could cost £2-3m but has a positive return. Is there any companies or investors that help you with stuff like this?

Answer 1

As mentioned before by others a venture capitalist might be your way-out.

However, the amounts of money you need are serious, the smaller (local entrepreneurs) will not invest so much in a single project. Your chances might be better with a bigger company.

For a startup business banks will not be happy to lend you the money, the risks are simply too high. for them.

My advice: go to a local venture capitalist (sometimes they call themself entrepreneur) and write a detailed businessplan with him, have him contribute part of the money. Yourself should invest at least your own time and energy and don't hope of getting a big salary the first years. Then go to a big venture capital firm as a team.

And as mentioned by others, you need to have a track record or at least proof you have a good idea (the google guys didn't had a track record but they had a PhD of Stanford)

Answer 2

go and joined be member of cooperative...however you have to deposit your money as you share...CAPITAL

Answer 3

2-3 million? unless you have proven success in running a business that size and a professional business plan, you'll never get that kind of financing - how do you know it has positive return - you'll have to demonstrate that convincingly in a business plan - with lots of research, numbers and statistics

Answer 4

Dragons Den!!!!!

Answer 5

A bank will want 20 - 30% deposit to show that you are serious.

You could go to a venture captialist but they will want you to put in lots of money too.  Maybe less than the bank, but in return, they will own more of your company.

You may well say that its a sfae bet, but everyone will ask you to prove that by putting in your own money too.

Answer 6

it depends on wether you have good credit

why not consider going to a local company who will invest in your project

http://uk.answers.yahoo.com/question/ind...

Answer 7

If you do not have a bad credit getting business loans are easy. It is generally seen that bad credit acts as an obstacle in the smooth running of a business. Are you also facing the same problem? No need to worry, as bad credit business loan is here to solve all your problems. The perfect use of bad credit business loan<!--comprises of the improvement of credentials so that you can avail any loan in the future. You can find more information on Business loans here,

http://best-loans.awardspace.com/busines...

You can first gather complete information regarding these types of loans. Move ahead in business with bad credit business loans. An effective way to get rid of your bad credit score and to speed up your-->business dealings is bad credit business loans. You can maintain your perfect credit score as long as you pay off your installments in time. This credit score improvement can enable you to avail any future loan with better terms and conditions.