Can I take out a Business Loan whilst in IVA?

Get expert opinion. This is the place for new questions to be posted.
3 posts Page 1 of 1

nacine

User avatar
Posts: 1
Joined: Sun Sep 19, 2021 3:46 pm

Post by nacine » Sun Sep 19, 2021 3:46 pm
could I take out a business loan to buy a Village Pub and restaurant business?

I need £200,000.00 and started my IVA in February 2021

This is a very good opportunity and has living quarters too so I could live there.

This has staff and chef in place Ready to Manage.

All I need is the Loan Over 10 years at a good rate.

Can I Do this and were do I go to get the loan

kallis3

User avatar
Forum Expert
Posts: 76914
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Sun Sep 19, 2021 4:36 pm
You will not be able to do this, you would also need the permission of your IP which is unlikely to be forthcoming for that amount of money.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

Foggy

User avatar
Forum Expert
Posts: 33039
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Sun Sep 19, 2021 4:38 pm
You are insolvent -- you will not be able to get a loan from any reputable source.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk
3 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”