39-year-old businessman buys bank that previously refused him loan of £10,000

39-year-old businessman buys bank that previously refused him loan of £10,000

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

- The man was refused £10,000 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 news, Citigroup Inc appointed Ireti Samuel-Ogbu as its first female Nigerian country officer after 36 years of operating in the country.

According to the report which surfaced months back, Samuel-Ogbu, who replaces Akin Dawodu, will start her new role on Tuesday, September 1.

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Samuel-Ogbu will move to Lagos and will report to Dawodu.

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