Irish bank loans for type training

[aslan1982]

Can anyone recommend any banks they have dealt with in regards to a loan for type training(ie the Ryanair one)

**********Please no bashing*************

I went to the AIB yesterday looking for 35g and they offered me a 5 year loan with 12 months deferred

With the interest in the first year amounting to 3500 euro so the new loan of 38500 would be recalculated after 12 months and at a interest rate of 10.5%

I would be paying back nearly 800 euro a month and around 44500 in total

That seems like a hell of alot.

Is there any branches that deal specifically with Pilots and training loans

Thanks in advance

[767200ER]

Have a look at the small business loan with HSBC

[Just a spotter]

Aslan (first off a warning, I'm not a financial advisor, I'm just a small business owner).

As I'm sure you know, the "Irish" banks are all but bankrupt right now. They are reluctant to lend and when they do, the rates are fairly high.

One option may be, if you are a member of a local credit union, they will lend you in the region of 3x your savings in the CU, generally at lower and friendlier terms that the banks. Even if you can't get the full amount from them, it may reduce the amount you have to borrow from a bank.

Approaching your position as a business, do shop around. Do have any records of savings, assets and debts (including repayments) to hand and be prepared to offer to move all your savings, credit cards (if you have any) etc to the bank that's making the loan offer it it helps reduce the rate (just be careful not to move into any fixed term or fixed notice deposits under the circumstances).

See if there's a small business officer in the branch, and see if you can build a rapport with them.

After that, good luck.

JAS:ok:

[aslan1982]

thanks for the advice guys

my sis has kindly given me the option of borrowing 10000 off her so that would mean I would need alot less from the bank and alot less interest to pay

Ive asked my bank would a small business loan be a better option and they are to get back to me

I dont really have any savings, debt or assets apart from a car so cant really attack them from that angle

But thanks for the help

[aslan1982]

then she'll be broke

and i wont be failing either;) so she has nothing to worry about.

She can take my car if I do:eek:

Thanks for the concern though

[flyhighspeed300]

THe answer is how much is your House worth?
£200,000 , £300,000?

The bank will need something to put against your loan that will equal the amount like a house, shares, bonds on even cash locked up which you cannot use at the moment.

800 euro a month and around 44500 in total

At the moment have seen HSBC offering a loan but it will be for around £1300-£1500 a month for £34-36K.

good luck finding a loan,
best answer I would give you is it is hard to get any loan at the moment so take it out of your house if you can.