Bank Loans & Business Plans
Guest
Posts: n/a
I have not done one of these - feel free
to correct me If I am wrong
I would expect that they will want
Assurance that they will get their
cash back one way or another
Projected forward income plan with assumptions on sources of income how
much and when
Projected forward expenditure plan with
assumptions.
Past financial history, credit record etc
to correct me If I am wrong
I would expect that they will want
Assurance that they will get their
cash back one way or another
Projected forward income plan with assumptions on sources of income how
much and when
Projected forward expenditure plan with
assumptions.
Past financial history, credit record etc
Guest
Posts: n/a
RVR800 has got it exactly right. The only other thing I can add is don't waffle and don't add loads of touchy-feely stuff - you don't want to bore them into not giving you the loan.
The above method did me proud... I now have enough dosh to finish the CPL/IR
The above method did me proud... I now have enough dosh to finish the CPL/IR
Guest
Posts: n/a
I presume you are going to HSBC, as they are the main lenders for Pilot training.
Based on my own experiences (I borrowed £17,000 off them) you will need some form of security for the loan, if you don't have that then they will insist you take out Life Insurance with them which acts as a security to the loan.
I didn't need a business plan, but then I'd banked with them for 6 years and had recently had business accounts with them which obviously helped.
They will want something from your intended training organisation outlining all the costs in detail and will also want to know what job prospects you may have when you finish the course (you have to blag that one a bit!!)
I dealt with HSBC in Cheltenham, the guy there was very helpful and knew about the Professional Studies Loan (some branches I hear haven't got a clue what you are talking about when you approach them!). If you want his details send me an E-Mail.
Regards,
GPS.
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Aargh, that was the taxiway we landed on!
Based on my own experiences (I borrowed £17,000 off them) you will need some form of security for the loan, if you don't have that then they will insist you take out Life Insurance with them which acts as a security to the loan.
I didn't need a business plan, but then I'd banked with them for 6 years and had recently had business accounts with them which obviously helped.
They will want something from your intended training organisation outlining all the costs in detail and will also want to know what job prospects you may have when you finish the course (you have to blag that one a bit!!)
I dealt with HSBC in Cheltenham, the guy there was very helpful and knew about the Professional Studies Loan (some branches I hear haven't got a clue what you are talking about when you approach them!). If you want his details send me an E-Mail.
Regards,
GPS.
------------------
Aargh, that was the taxiway we landed on!
Guest
Posts: n/a
I agree, HSBC your best choice. Up to 18000 I think, even mentions professional pilot in the studies loan leaflet. BTW if the branch you speak to does not know/like, just try another as my HSBC bank manager said they may not understand the amounts involved! Anothe option is of course the career development loan if they still do it. Mine is with Barclays. Write back if you have any probs and I will give you my HSBC mans name. Good Luck
Guest
Posts: n/a
Hi Folks ,
This is not an advert , I'm just a old fart Capt on BA 744s , but in an attempt to help the son of a friend , I discovered that the chap to talk to about these loans is a Graham Sawyer at the HSBC Muswell Hill branch. What you talk about I will leave to your fertile imaginations !
Regards
Antigua
(Don't Ask)
This is not an advert , I'm just a old fart Capt on BA 744s , but in an attempt to help the son of a friend , I discovered that the chap to talk to about these loans is a Graham Sawyer at the HSBC Muswell Hill branch. What you talk about I will leave to your fertile imaginations !
Regards
Antigua
(Don't Ask)
