A few weeks back I thought it’s about time I stop using my husband’s money and some savings I had to fund Stomp the Pedal, and look to get a loan.
My thoughts were, oh dear how will I even get a loan with no job. All the thoughts were swirling in my head but I decided to continue to look into it.
I came across Virgin Business Start Up. There was a process involved, but I was like, I can do this. It could also help me in areas that are not my expertise if I was successful.
Round one was applying. Round two was a phone call with an assement advisor. Round three the workshop. Round four present your business proposal and financial forecasting and round five if approved and successful, you receive the start up loan and a business mentor from Virgin Start up for 12 months!!
For me this was the key, my very own business mentor who can provide guidance and ask me questions that I wouldn’t think to ask myself.
I’ve made it through to Round 4, where I need to document my business plan and financial forecast. This is quite exciting.
The workshop I attended earlier this week was to help us budding entrepreneurs with this process, so that we can provide a compelling case to be able to secure funding.
Now please note, this is not free 💰! If successful, one must still pay the loan back.
For those who are not aware, getting a start up loan through normal channels can very difficult and challenging.
I’m really excited for 2018. What I have learnt so far, having a great team of people around me in marketing, design, investors etc has proven invaluable. I’m very grateful.
Bring on 2018 and all the capsules for Stomp the Pedal!!