daveykb started this topic @ 22:27 on 05/08/2006
Just wondering if someone can help me?
I have opened a business account and i would now like a business loan, say for around £5,000 - £10,000. No doubt the bank will want some form of security and since i havent got the funds to add to the loan myself, they will probably want me to secure my house on the loan for security. Now here's my question.....
I live with my girlfriend and we have a joint mortgage together. If the bank ask me to secure my property against the loan, would my partner have to be there to sign the loan agreement? Or would my signature be enough?
I ask because my partner doesnt want anything to do with my business venture, she doesnt want to take the risk and end up in debt (she will be more than happy to spend the money if it is a success though!!) and she would never sign the loan agreement if it needed her signature.
Any advice would be much appreciated and welcomed. Thank you
RE: business loans
GillOakWeb | 06/08/2006 12:34 PM
She has to sign it too ... so you need to find other means of financing it or talk to her again!
Sorry but if you cant convince her of your ability then how do you think you will convince others!
Sit her down and talk it through ....
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RE: RE: business loans
daveykb | 06/08/2006 09:38 PM
Thanks very much for your replys...im working on her at this very moment! Think she's warming to the idea!
Thanks again