- Businessman Adam Deering bought a bank building in Urmston, England.
- 17 years ago, the same bank rejected him when he applied for a business loan worth £10,000.
- He was penniless at the time but is now one of the most respected and most successful businessmen in the UK.
Adam Deering is a successful businessman in his own right. At 39 years old, he leads five multi-mullion businesses in the UK including personal insolvency provider Hanover Insolvency Limited and funeral firm Pride Planning where he is respectively CEO and chief operating officer.
Unknown to some, however, he also had his share of struggle and rejection when he was just starting out. 17 years ago, he approached a bank for a £10,000 ($12,800) business loan and they outright turned him down. The reason? They considered him “too young and inexperienced.”
“I presented them with a comprehensive business plan and asked for £10,000 but the bank manager didn’t seem to take me seriously at all… I was devastated when she told me I was too young and inexperienced and there was no way they could take a risk on me.”
You see, Adam used to be a salesman and used his last salary to rent a tiny office space in Stretford, Greater Manchester. So with his application disapproved, he had to spend four months “old calling possible clients “from the floor.” He got a phone through credit and he couldn’t even afford to buy a table and a chair at the time.
Despite the hardships, he continued working hard and in 2014, he was able to sell his debt management company for a whopping £5 million.
Fast forward to the present, Adam has decided to buy the bank’s building in Urmston, England for £450,000 ($580k) which he plans to turn into eight apartments and a retail unit.
“When I was turned down for the loan, it was tough but because I had a dream and I was so focused on achieving it, I made it happen anyway.
“To me, buying the bank building brings things back full circle and it shows that I was right to keep believing in myself.”
Follow On Facebook
TikToker Shares How She Tricked Invaders Who Tried Opening The Hotel Door While She Was Alone
5-Year-Old Artist Already Getting Commissioned For Her Paintings
Hiker Discovers Creepy Alien-Like Creature That “Smells Like Rotting Flesh”
New York Store Is Selling ‘Wet Pants Denim’ For $75
Burglary Victim Writes Heartbreaking Note Begging Robber To Return Last Photos Dog
Meet The Gorgeous Actress Who Portrayed Zombie Queen In ‘Army Of The Dead’
Florida School Sparks Outrage After Editing 80 Female Students’ Photos To Cover Their Cleavage
McDonald’s Recruitment Poster Offers New Employees With Free iPhone After Working For 6 Months
Horrific Video Shows Lioness Attacking Circus Trainer In Russia
Taking 4,500 Steps A Day Could Help You Live Longer, Says Research
Man Iced Neighbor Who Repeatedly Asked Him “When Are You Getting Married?”
Do You Live in One of These 15 Countries With The Most Beautiful Women on Earth?
The Secret Meaning of Anklets And Why Some Wives Wear Them
Waking Up Between 3 to 5 AM Could Mean You’re Experiencing Spiritual Awakening
Divorced Man Wrote 20 Epic Marriage Advice He Wished He Could Have Had
Haunting Photos of Two Tourists Snapped Just Before They Mysteriously Disappeared
“Chastity Cages” is the Latest Thing for Men
Pork Fat Is Officially One of the World’s Most Nutritious Foods
Some Stranger Padlocked This Guy’s Earlobe And Ran Away With The Key
Three-Month-Old Baby Left Blind in One Eye After Family Friend Took His Picture
Interesting10 months ago
20 Countries With The Most Beautiful Women In The World
News6 months ago
Mexican Residents Tie Mayor To Tree After He Failed To Fulfill His Campaign Promise
OMG9 months ago
Savage Moment Husband Exposes Cheating Wife During Their Baby Shower
Stories9 months ago
An Old Lady Went To A Bank To Withdraw Some Money