Business Loan

[Uub]

Hello Fastlane Fam,

I have written my business plan to get a loan from a government backed scheme and I would like some help of you. The Plan itself has been approved but my business advisor came back to and questioned my cash flow.

Basically I have asked for a loan of £10000, this money would be used for the start up of my company promoting affiliate offers. Most of the money would be spend to buy cpa traffic.

Now adviser said that the money in my cash flow is used as a buffer meaning that I would only spend roughly £1500 a month and the cash balance is too high after the in and outs, and the loan is only meant to support the operation for a few months during the start up.

I have then revised the plan and said that I am looking so spend £9000 within the first month to buy traffic credit as "inventory".

But this is apparently still not good enough for investment as I have to prove why I would need to spend £9000 within the first month, this is where i need your help, with affiliate marketing there are no startup quotes or minimum investment needed.

How can justify why i need to spent this amount within the first month.

Any inputs, thoughts or ideas would be greatly appreciated!

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[MJ DeMarco]

start up of my company promoting affiliate offers.

You're joking right?

 

[G-Man]

You have a "business advisor" but can't come up with 10K?

 

[Uub]

Im not joking, and shes a advisor for the government

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Raoul Duke]

 

[Uub]

Im clearly not going get help here, I will make this happen no matter what, if I get burned so be it.

 

[MJ DeMarco]

if I get burned

But since you want a loan, it won't be YOU that gets burned, no?

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[jon.a]

How can justify why i need to spent this amount within the first month.

You can't, because you don't.

 

[AllenCrawley]

Im clearly not going get help here, I will make this happen no matter what, if I get burned so be it.

You've gotten the best help. You just don't realize it yet.

 

[G-Man]

Im clearly not going get help here, I will make this happen no matter what, if I get burned so be it.

You could have just introduced yourself, but you didn't, you asked for advice.

And you weren't really asking for advice, you were looking for someone to make you feel justified in what you wanted to do.

No one here is your mom.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[acerseller]

Im clearly not going get help here, I will make this happen no matter what, if I get burned so be it.

You are getting help. You just aren't getting the response you wanted.

Others are answering the question you should be asking rather than the question you did ask.

The reason is a) the advisor is right b) you shouldn't start an affiliate business with a loan (unless you are an experienced affiliate marketer.)

For a) you shouldn't spend 90% of your capital in the first month because with any campaign you need to test and hone the marketing till it starts to work. Then you ramp it up. I personally spend a couple hundred thousand a year on marketing. I only just started expanding that to direct email drop campaigns (a form of affiliate marketing.) My monthly spend on that has been capped at $1,000 till I and my team figure out what works best for our funnels.

For b) the answer is nearly the same. The reason you shouldn't start an affiliate business with a loan is that it will take you awhile to learn what works (if you ever do.) Therefore if you burn through cash that was acquired via a loan you will be in a bad spot. No income and you have to pay back the funds.

Saying you are going to start an affiliate business with a loan is equivalent to saying you are going to start being a prop trader using a loan.

If you insist on this fine, but don't spend all your money at once. In addition why do you need a loan? Why can't you purchase $100 traffic, earn a little from that, rinse and repeat continually purchasing more?

 

[Destined]

Hello Fastlane Fam,

I have written my business plan to get a loan from a government backed scheme and I would like some help of you. The Plan itself has been approved but my business advisor came back to and questioned my cash flow.

Basically I have asked for a loan of £10000, this money would be used for the start up of my company promoting affiliate offers. Most of the money would be spend to buy cpa traffic.

Now adviser said that the money in my cash flow is used as a buffer meaning that I would only spend roughly £1500 a month and the cash balance is too high after the in and outs, and the loan is only meant to support the operation for a few months during the start up.

I have then revised the plan and said that I am looking so spend £9000 within the first month to buy traffic credit as "inventory".

But this is apparently still not good enough for investment as I have to prove why I would need to spend £9000 within the first month, this is where i need your help, with affiliate marketing there are no startup quotes or minimum investment needed.

How can justify why i need to spent this amount within the first month.

Any inputs, thoughts or ideas would be greatly appreciated!

Why get a business loan to do affiliate marketing? Go put up a website and then simply drive quality traffic to it. make sure that site has good conversions before attempting anything. In today's world you can drive some good traffic, by doing guest posting on blogs, article marketing. If you have some money, maybe hit up facebook marketing and other methods. Many affiliate marketers have started, with little or no money.

 

[AubreyJ]

You will never get a loan for this idea. Nor do I think you should try to seek one- there are so many better ways to go about doing this rather than get a loan.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[mrarcher]

Drive by post zooooooooom
For anyone else thinking on affiliate marketing. Grow traffic organically to start. Spend the minimum possible and find what works. If it works and you know you are onto a winner the money you've earned will cover advertising. This guy wants a company making thousands a month tomorrow. Take the time to grow and learn.

 

[Arrived2015]

How can justify why i need to spent this amount within the first month. Any inputs, thoughts or ideas would be greatly appreciated!

Im clearly not going get help here, I will make this happen no matter what, if I get burned so be it.

Evidently, you didnt appreciate and appears you dont recognise the help you did receive here.

Have you gone elsewhere to get the justification you seek?

 

[Waspy]

For once the UK government is incentivising starting a business and they get people requesting a loan for affiliate marketing.

What need is your business solving? For the love of business, where is the neeeeeed?!

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[mrarcher]

For once the UK government is incentivising starting a business and they get people requesting a loan for affiliate marketing.

What need is your business solving? For the love of business, where is the neeeeeed?!

It has been going on for years Start a New Business with the Start Up Loans Company Its a loan with the added waste of time like SWOT analysis and business plans etc.

 

[Waspy]

It has been going on for years Start a New Business with the Start Up Loans Company Its a loan with the added waste of time like SWOT analysis and business plans etc.

Yeah I know, I applied for it about 3 years ago, before realising I didn't even need a loan to do what I wanted to do.

 

[100k]

You won't get a loan without collateral. You can use your property if you have equity in that bish. Or just re-mortgage.

If not, talk to a family member that has good credit.. and ask them to be your guarantor for the loan. Basically if you fail to pay back the money, they'll be responsible for paying back the money. In return you can maybe give them a stake in the business.

Lastly... consider building your credit score and using your credit card to fund your venture. You can also try to build your business credit and get a credit card with £10k-20k limit in the company's name. Look into that shit. Good luck.

But like others said.... its kinda risky proposition. That's probably why the bank won't give you the money.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Uub]

Affiliate marketing is a working concept and has been for many years, I should not have to explain it to you guys if you know a thing or 2 about Internet marketing.

I understand that most of you have started your business ventures differently but this is real and can work. I don't see why I should start small if I have the option to go bigish, if it is available i will take it. The loan is a personal one and it is already pre-approved (the business plan), I have adjusted the figures. I have reduced the loan amount and my cash balance is more "realistic" to a small start up.

From here the process takes 2-3 weeks i think.

I will post a up a journey if there is any interest....

 

[Uub]

thanks for all the replys

 

[mrarcher]

Affiliate marketing is a working concept and has been for many years, I should not have to explain it to you guys if you know a thing or 2 about Internet marketing.

I understand that most of you have started your business ventures differently but this is real and can work. I don't see why I should start small if I have the option to go bigish, if it is available i will take it. The loan is a personal one and it is already pre-approved (the business plan), I have adjusted the figures. I have reduced the loan amount and my cash balance is more "realistic" to a small start up.

From here the process takes 2-3 weeks i think.

I will post a up a journey if there is any interest....

I'm on both sides of affiliate marketing at the moment. Good luck but it wont be 2-3 weeks. If it is you should write a book about borrowing some money, throwing it at advertising and becoming a huge success, that alone would make you a millionaire. I doubt it'll even be 2-3 months. One big part of any business is patience and resilience. If it was instant everyone would do it. But i'm sure you know better than everyone else, enjoy paying back your loan.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[NickC]

Affiliate marketing is a working concept and has been for many years, I should not have to explain it to you guys if you know a thing or 2 about Internet marketing.

I understand that most of you have started your business ventures differently but this is real and can work. I don't see why I should start small if I have the option to go bigish, if it is available i will take it. The loan is a personal one and it is already pre-approved (the business plan), I have adjusted the figures. I have reduced the loan amount and my cash balance is more "realistic" to a small start up.

From here the process takes 2-3 weeks i think.

I will post a up a journey if there is any interest....

Nobody denies the fact that its a working concept. You're just not understanding why getting a loan would be a terrible idea

 

[Waspy]

Affiliate marketing is a working concept and has been for many years, I should not have to explain it to you guys if you know a thing or 2 about Internet marketing.

I understand that most of you have started your business ventures differently but this is real and can work. I don't see why I should start small if I have the option to go bigish, if it is available i will take it. The loan is a personal one and it is already pre-approved (the business plan), I have adjusted the figures. I have reduced the loan amount and my cash balance is more "realistic" to a small start up.

From here the process takes 2-3 weeks i think.

I will post a up a journey if there is any interest....

Affiliate marketing is amazing for the business you are marketing.

It's a marketing technique. Not a business imo.

 

[Uub]

I'm on both sides of affiliate marketing at the moment. Good luck but it wont be 2-3 weeks. If it is you should write a book about borrowing some money, throwing it at advertising and becoming a huge success, that alone would make you a millionaire. I doubt it'll even be 2-3 months. One big part of any business is patience and resilience. If it was instant everyone would do it. But i'm sure you know better than everyone else, enjoy paying back your loan.

I have been told by the adviser that after reviewing the cash flow the process takes 2-3 weeks, don't know why she would lie to me. Also I am not saying that I know better, but I believe in what i've got.... call me naive.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[jon.a]

I have been told by the adviser that after reviewing the cash flow the process takes 2-3 weeks, don't know why she would lie to me. Also I am not saying that I know better, but I believe in what i've got.... call me naive.

Show us how it's done.

 

[Uub]

Show us how it's done.

I don't know if you're being sarcastic.

 

[Waspy]

I don't know if you're being sarcastic.

If there is one thing this forum LOVES it's success stories with boat loads of process.

So, while it might have seemed like sacasm, we are actually excited for you to blow us away.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[jon.a]

I don't know if you're being sarcastic.

Does it matter?

 

[AllenCrawley]

Affiliate marketing is a working concept and has been for many years, I should not have to explain it to you guys if you know a thing or 2 about Internet marketing.

Most of the feedback you received was in regards to getting a loan for this type of business. However, we do have a number of ex-affiliate masters/big players here on this forum. Some of which suggest not getting into the game. Why is that? Mainly for reasons explained in the book, "The Millionaire Fastlane " by @MJ DeMarco. Did you know that book was spawned from this forum? Have you read it? You can get the first three chapters for free here.

Here are some great threads here on the topic of affiliate marketing:

GOLD - So you want to get into affiliate marketing...

Ask Me Anything - AMA - Affiliate Marketing + Guide "How I Made $5K w/ 1 Campaign"

Progress Thread - From Affiliate Marketing To Importing And Ecommerce