Businessman buys the bank that refused to give him a £10,000 loan 17 years ago

17 years ago, a bank rejected his business loan application. Now, he owns that very same bank. 

  • When Adam Deering was only 22, the bank rejected his loan request, claiming he was too inexperienced.
  • Now, at 39, Mr. Deering had bought the building of the very same bank.
  • The UK entrepreneur is planning to turn the property into a mixed retail and residence unit. 

The businessman and influencer Adam Deering, 39, had his revenge 17 years after a bank refused to give him a loan, deeming him as “too young and inexperienced,” Elite Readers reports.

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Moving away from your home town where you grew up is a serious life hack! 👌🏻 . . If your current environment isn’t serving you a positive purpose then change it! 🙌🏻 . . Your environment plays a massive role in the opportunities available, how you feel, how you carry yourself, who you hang your with, what you do with your life and the decisions you make! 💯 . . Once you switch your environment you switch your focus, you connect with people differently, you connect based on common goals, common interests rather than hanging out just because you grew up together. 🤷🏻‍♂️ . . I moved out of my home town at a young age and my own experience teaches me that with change comes HUGE growth. If you aren’t happy with your life right now and want more then start by changing your environment. 👍🏻 . . Change can be hard at times but believe me nothing is harder than staying stuck somewhere you don’t belong! . . Everything changes for the better if you have the courage to make it so! Do it and don’t look back! ✊🏻🔥 . . #findtheaction

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Deering, who now leads five multi-million businesses in the UK, had his share of hardships when he was making the first steps of his now-successful career path. Amongst the things that motivated him the most was the loan rejection that he received 17 years ago.

The 39-year-old Manchester entrepreneur, then 22, needed money to invest in his business idea. He approached a bank for a £10,000 ($12,800) loan. However, the bank rejected his request, claiming he was “too young and inexperienced.”

Now, Deering finally had his long-awaited revenge.

He spent £450,000 ($580,000) to buy the bank whose staff belittled his dream.

As per LADbible, the businessman said:

“I’ve always firmly believed that if you work hard enough to achieve your dream, then anything is possible. I quit my job as a salesman aged 21 because I knew I had it in me to create a successful business, but I didn’t have a penny to my name so I needed a bank loan. 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.”

The head of five different multi-million businesses added that at the time, he would devote his whole energy to the plan he presented to the bank. But when the manager declined his request because “there was no way they could take a risk” on him, Adam was devastated.

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Live with no excuses and travel with no regrets!💯✈️ . . Day 1 in Hong Kong has been epic! 🙌🏻💫 . . We are here to do some sight seeing, see some friends and checkout business opportunities. 👍🏻 . . Travel is one of my biggest passions I love seeing new places and experiencing amazing new things. It’s so important to push yourself out of your comfort zone.👌🏻 . . An investment in travel is an investment in yourself! It opens your heart, broadens your horizons and fills your life with stories to tell! ✊🏻🔥 . . Don’t let your dreams just be dreams go and see the world! It’s time to level the f*ck up next year! 💪🏻 . . Where are YOU going to go on our awesome planet in 2020 that you’ve never been before? 🌎🤔 . . I want to know below…👇🏻 . . #FINDTHEACTION

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In the months following the bank’s rejection, Deering was struggling to make ends meet. He shared:

“Without the money, I spent four months cold calling people from the floor of a small office because I couldn’t even afford a desk and a chair. Those early months were so difficult, not knowing if I was going to be able to make it work and not knowing if I’d be able to pay my bills.”

Despite the difficulties, Adam refused to give up on his dream. His hard work started paying off when in 2014, he sold his debt management firm for an impressive amount of £5 million.

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I’m back at the action HARD now this Monday after a very chilled weekend. 💪🏻 . . Plenty of time with the kids and I also took some time out for myself to read and reflect on what lies ahead for me in 2020.😎 . . I’m an obsessive day dreamer and I believe whatever my brain can imagine can happen. So I always aim to keep my thoughts positive and my goals BIG as to set your sights too low is to do yourself an injustice. 💯 . . To make my day dreams turn into reality I ALWAYS have to make a plan! I write down all my thoughts, even if it’s 3am and I’ve just woke up and thought of something! 🙌🏻 . . Seen a place you want to go to? – write it down! . . Identified somebody you want to meet? – write it down! . . Had a business idea? – write it f*cking down! . . Failing to plan is planning to fail. There are dreamers and then there are planners! The planners are the people who make their dreams come true! 💯 . The war is not won on the battlefield! The war is won by the plan made in the generals tent! So make a f*cking plan and execute! ✊🏻🔥 . . #findtheaction

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After buying the building of the bank that rejected him, Deering plans to turn it into a mixed retail and residential unit. 

The UK entrepreneur added:

“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.”

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You absolutely f*cking can! 💪🏻 . . When I was a young skint kid and I told people I was going to go into business people laughed at me, people doubted me and people dismissed me. Yet here I am!🙋🏻‍♂️ . . I can see why they did though, I had no money, I knew nothing about business, I was from a working class background and my dreams seemed ridiculous. Yet they weren’t to me! 🚀 . . A funny story actually one of those people who doubted me and laughed at me all those years ago contacted me last week to ask if they could borrow my Lamborghini for an event they wanted to attend! I don’t hold grudges but if you weren’t willing to support me in my struggles then you don’t deserve to share in my successes. 💯 . . You see when people judge others they are showing you their own limitations not yours! Their doubts don’t define who you are. You define who YOU are! 👊🏻 . . If you want to achieve greatness stop asking doubters for permission or validation. They have nothing to offer you and will only hold you back! 💯 . . Invest in getting your mindset right, invest in developing a positive network around you, invest in expanding your knowledge, put YOU first! Greatness awaits! ✊🏻🔥 . . You can thank me for this advice in a few years when that old negative friend contacts you to borrow your Lambo! 🙌🏻😂 . . #findtheaction

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Today Adam Deering is a widely-respected businessman who runs debt management firm Hanover Insolvency and funeral company Pride Planning, along with several other multi-million corporations.

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