Eeek!

[TGS]

Bank manager arriving in 10 mins to look at my business plan...

Can't find 'scared' emoticon.

[Casscat]

Good Luck TGS!

[Fraise]

Good luck. If it's a good place in a good location and the right price you should do well

[barbersdrove]

Really! i didn't think they offered that kind of individual service any more! You are very lucky to have it so regard it as a bonus. I hope it goes well and you get a big thumbs up.

[TGS]

Well, Jeremy was lovely. It was a long meeting but he seemed very happy with my info.

He's just left and although he can't guarantee the finance (got to run through the computers or something) he says he's confident that an offer will be made. We find out Tuesday (the only time I've moaned about a bank holiday), then it's in the valuers hands. Oh and the solicitors..

crikey - I didn't have to beg.. I had prepared myself to

[Casscat]

I hope it goes well for you TGS. Quantitative easing has placed more money into the credit market so banks are more willing to lend than they were. Looking forward to your update on Tuesday.

[greenbarn]

Quantitative easing has placed more money into the credit market so banks are more willing to lend than they were. Looking forward to your update on Tuesday.

I understood "Tuesday".......

[Moliere]

I hope it goes well for you TGS. Quantitative easing has placed more money into the credit market so banks are more willing to lend than they were. Looking forward to your update on Tuesday.

Yes, but that's counteracted by the new, much stricter lending rules which have been imposed by the FCA on the banks, to ensure affordability under stressed situations. It evens out, but criteria are very tight. Assuming the business plan makes sense though, they will have the liquidity to make a facility available.

Mols

[Casscat]

The stricter lending rules have - largely rightly - been in place for some time but the huge contraction of lending during the banking crisis and beyond strangled initiative. TGS stands a much better chance now of securing the bank's support than for some years. Banks are no more likely to throw money blindly at any project now than they were two or three years ago, but at least the liquidity is there to support prudent judgement.

[Moliere]

Indeed. Let's hope all is satisfactory on Tuesday.

Mols

[TGS]

Longest weekend ever methinks.

One of the quirkiest parts of the meeting was when he showed me the pro forma he had to adhere to. Seeing evidence that I understood the market, understanding the financials etc..

Thank god I've run a business before and although largely useless in the real world my sociology degree did come in handy in the analysis bit.

I'm sure they used to say, how much do you want? Here you go..

Off to see a very clever solicitor this morning.

Thanks for your comments.

[TGS]

Drumroll please...

The bank said yes. Conditions include the valuation approval - which is happening today.

One more step closer!

[Casscat]

Yay! Congratulations! Are you elated or panic stricken?

[TGS]

Aaah... Ummmm.... good question Casscat!

I am excited about the business and being at the end of this process.

This bit is more nerve wracking though, I feel very tense about the whole purchasing bit.

[greenbarn]

Good news, good luck and keep us posted - and just think how much useful experiencing you're gaining that you can then pass on to other startups!