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Hi Zimba88

I have a quick question please,
My tier1 entrepreneur extension approved in January 2017 and applying for ILR in January 2019 through 5 years route.last month my bank offered me the business loan of £25k and I agreed for that,the money credited into my business account and used the money for business expansion only.
I'm bit worried now, is allowed to draw down business loans in tier1 entrepreneur extension or not. It will impact my ILR in 2019, please let me know

Thanks

nani9 wrote:Hi Zimba88

I have a quick question please,
My tier1 entrepreneur extension approved in January 2017 and applying for ILR in January 2019 through 5 years route.last month my bank offered me the business loan of £25k and I agreed for that,the money credited into my business account and used the money for business expansion only.
I'm bit worried now, is allowed to draw down business loans in tier1 entrepreneur extension or not. It will impact my ILR in 2019, please let me know

Thanks

It will not

Tier 1E rules do not prevent you from doing business or getting loans

In my opinion your business loan should not have any negative impact on your application. Most of the business needs additional funding naturally in addition to the ownership funding. If your bank offered means that they should have found your business financial performance is good, which is a positive thing on genuinity grounds.