HSBC loan

[two speed prop]

In a couple of months I will be applying for a HSBC professional studies loan for my IR. My problem is I am not sure exactly what to include in my Buisness plan and how to structure it.

If there is anybody who has been through this process and could lend me a copy of their presentation I would be very grateful.

Also any sources of info. on the internet or elsewhere would be a great help.

Cheers,
TSP

[davidanthonylucas]

TSP,

May sound obvious but have you asked your bank?

I am sure that there is someone there who will tell you exactly what they need to see from you. Generally, they are v nice people and one of the specified purposes of the Professional Studies Loan is to finance commercial pilot training.

d.a.l.

[richc]

TSP

Just my two pennies worth...the HSBC branch I went to was very helpful in sorting out my Professional Studies loan for the whole modular course. They required information including:

- Verification from the training establishment that you've been accepted on a course.
- Course start date and duration so they can sort out the installments.
- The likely return on their investment (I found it helpful to take salary info on Ryanair and Easyjet which made the bank manager sit up and listen!).
-Information on other loan facilities you are using and investments you hold.
-Contingency plans should they be needed.
-An aviation sector review may be helpful, demonstrating an upturn in the market (if there is one)...new airport proposals, mergers like Go & EasyJet.

My branch weren't that bothered about a full-on Powerpoint presentation...just present a neat, logical portfolio of costs, start dates, duration for them to refer to and fill in an application form and Bob's ur uncle.

Hope this helps a bit and good luck with it,

Rich C

[chilleruk1]

This sounds like a good idea, I hadn't thought of it. Do you think my banks are fairly keen with financing a complete ATPL? I am close to getting my PPL and have well and truly got the flying bug but I don't have the cash.

[two speed prop]

Thanks for the advice, I'll give the bank a call and print out the wages page of Ryanair's website.

chilleruk1,

I don't know your circumstances but I am going to apply for £15k unsecured. I think this is about their limit for unsecured loans but a friend of mine was offered £60k, secured on her parents house.

The loan is called a professional studies loan and is designed specifically for postgraduate courses and commercial pilot training.
Each application is treated individually and the decision is the bank managers as far as I am aware.

If you wan't more info. call HSBC on 08457404404.

Good luck mate!

TSP;)

[Soggy]

I expect you have already done this but have you thought about the career development loan.???

They wont lend you 60K on this but the terms are better.
I think £8k is the limit here

Just a thought!!

[PFO]

I would definitely find a local "pilot friendly" branch that another Ppruner has used.

My local branch first said that pilot training didn't qualify (!), then that I had been out of Uni too long to qualify (5 years!) and then finally tried to stitch my parents up with a remortgage and capital raise secured on their house.

All the way through each meeting they had to keep referring to a manual and calling the branch manager!

Idiots!

PFO

[GolfFoxtrot]

Can anyone recommend a pilot friendly HSBC branch. I have heard the best bet is to choose one near a large FTO.

Chreers
GF

[GolfFoxtrot]

Anyone had any luck with an Oxford area branch?

GF