Home News Manchester Businessman Buys Bank That Refused Him £10,000 Loan 17 Years Ago

Manchester Businessman Buys Bank That Refused Him £10,000 Loan 17 Years Ago

Manchester Businessman Buys Bank That Refused Him £10,000 Loan 17 Years Ago

A 39-year old Manchester businessman identified as Adam Deering has bought a bank that refuses to give him £10,000 loan 17 years ago.

According to Elite Readers’ reports, the man was refused when he was 22 years old but would later buy the bank after 17 years.

It was gathered that the bank rejected Deering’s loan after deeming him too young and inexperienced at the time.

However, the businessman, who needed the money to invest in his business idea, did not let the rejection discourage him in pursuing his dreams.

Becoming successful was not an easy sail for Deering as making ends meet became a herculean task for him after he was refused the loan.

However, after years of Hard work, the 39-year-old now leads five multi-million businesses in the United Kingdom.

Now, the Manchester businessman has bought the bank that refuse to give him loan. He acquired the bank with a sum of £450,000 (N224,807,905.44).

Deering plans to turn the building of the bank into a mixed retail and residential unit.

Sharing his story, Adam Deering wrote via his Instagram page;

“Big thanks to @ladbible for writing this story. 🙌🏻
So last week I bought the bank building where I got knocked back for a loan at 21 years old! 🙌🏻😂

So when I was a broke ass 21 year old I had a dream to work for myself and setup my own business! 👍🏻

I created a business plan, made an appointment with the bank manager to speak about setting up and account and getting a business loan, before I went into the bank I prayed as I had zero cash and had no idea how I would realise my dream without it. 💯
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I sat down with my fingers and toes crossed and the woman who was the bank manager took my business plan went through it quickly and in a really patronisingly tone said the problem is Adam you are a bit young and you have no business experience. This isn’t something we can do at this stage. 🤦🏻‍♂️😫

My heart sank, I felt humiliated, frustrated and sad. I had no plan B. 💔 😢I had already quit my job and had managed to scrape enough money together to pay the first quarters rent and I got a phone-line off BT which was on 30 days credit terms.
.
I didn’t have any money to buy a desk or chair so as a result I spent 4 months on the floor with the phone off BT and the Thompson Local. 😊

No marketing budget, no Google or Social media to even advertise in, just a burning desire to succeed! 🔥

So I bought the bank building where they declined me for the £10K business loan! 🙌🏻

For me this was a great day! 🤩

Remember your current situation is never your final destination! ✊🏻💪🏻”

View this post on Instagram

Big thanks to @ladbible for writing this story. 🙌🏻 . . So last week I bought the bank building where I got knocked back for a loan at 21 years old! 🙌🏻😂 . . So when I was a broke ass 21 year old I had a dream to work for myself and setup my own business! 👍🏻 . . I created a business plan, made an appointment with the bank manager to speak about setting up and account and getting a business loan, before I went into the bank I prayed as I had zero cash and had no idea how I would realise my dream without it. 💯 . . I sat down with my fingers and toes crossed and the woman who was the bank manager took my business plan went through it quickly and in a really patronisingly tone said the problem is Adam you are a bit young and you have no business experience. This isn’t something we can do at this stage. 🤦🏻‍♂️😫 . . My heart sank, I felt humiliated, frustrated and sad. I had no plan B. 💔 😢 . . I had already quit my job and had managed to scrape enough money together to pay the first quarters rent and I got a phone-line off BT which was on 30 days credit terms. . . I didn’t have any money to buy a desk or chair so as a result I spent 4 months on the floor with the phone off BT and the Thompson Local. 😊 . . No marketing budget, no Google or Social media to even advertise in, just a burning desire to succeed! 🔥 . . So I bought the bank building where they declined me for the £10K business loan! 🙌🏻 . . For me this was a great day! 🤩 . . Remember your current situation is never your final destination! ✊🏻💪🏻 . . #findtheaction

A post shared by Adam Deering (@adam_deering) on

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