E t1 extension due 50k -have taken loan from 2 UK based orig

[shanky]

Hello visa gurus

I'm on entrepreneur visa- 50 k . my extension is due this oct 2015 .
Setting up my business cost was much more then £ 50000 so I invested £55000 of my own money and rest of the money I took 2 loan from 2 different UK based originations. One was a government funded business loan and other was funded by private sector. I paid back all the govt loan this year and first loan is all over but loan funded by private sector loan is still pending and instalments are due till 2017 . It shows on my company records that I have taken loan from that private organization.

Are we allowed to take loans for our business in entrepreneur visa category ?

Do you think that it can be a problem for my extension ?


Thanks

S

[tiredoftiers]

as as far I understand loan is a facility can be used by individual or business in this context you cannot claim loan money you invested as investment but you own money 55000 that you said you put in.
UKVI should not have any objections as to why you used loan to expend your business as long as you have(for visa) or have invested(for extension) required money.

you should read policy/ guidance properly and possibly seek some professional help if you find guidance wording confusing or further information required

[vmai]

hi pls send your email address or your phone no,my solicitor help you free of cost