Adam Deering: Businessman, 39, buys bank that refused him R215k loan

Adam Deering: Businessman, 39, buys bank that refused him R215k loan

- A businessman identified as Adam Deering has shown that achieving one's dream is possible with commitment and dedication

- The man was refused a £10,000 (R215k) loan when he was 22 years old but would later buy the bank after 17 years

- The bank rejected Deering's loan after deeming him too young and inexperienced at the time

- Deering struggled through life after being denied the loan which he planned on investing in his business idea

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Adam Deering was refused a loan of £10,000 when he was 22 years old, and 17 years later, the Manchester businessman bought the bank.

He was refused the loan as the bank felt he was too young and inexperienced at the time, Elite Readers reports.

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

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Adam Deering: 39-year-old businessman buys bank that refused him loan of £10,000
Adam Deering bought the bank that refused him loan of £10,000 17 years ago. Photo credit: @adam_deering/Instagram
Source: UGC

The 39-year-old now leads five multi-million businesses in the United Kingdom. He acquired the bank with a sum of £450,000 (N224,807,905.44).

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.

He recalled:

“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.”

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

In other business news, Nhlanhla Nciza is one proud mommy after her son achieved a major goal. The songstress took to social media to gush that her boy, Nkule, is officially the owner of a barber shop.

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Young man starts successful business inspired by mom who passed away

Nkule, who is more popularly known as his stage name Ciza, seems to be committed to creating his own legacy but having well-known parents like Nhlanhla and TK Nciza obviously helps too.

The 18-year-old is the owner of Legends Barbershop franchise in Rosebank. Taking to Instagram to celebrate the achievement, his doting mom posted:

"Big announcement: Family join me as I congratulating [sic] my son whom you may know as an artist, and has now spread his wings to become a young black businessman as well.
"He is now a proud owner of a @legends_barber franchise in Rosebank. I am so proud of a young man he has become, so responsible, mature, smart and kind. I pray that God continues to protect you and guide you on your new journey as an entrepreneur."

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