We all remember our lowest points. The memories from those times never leave us: what happened, how we got out of it but also how we were treated when we needed help the most.

Adam Deering never forgot his humble beginnings. In 2002, he was near-broke, and tried to get a £10,000 loan at the RBS branch in Urmston, Greater Manchester. He was denied.

The once almost penniless man is now a wealthy businessman, and he’s marked the difference two decades can make by buying the bank that denied him his first chance. This is how he did it.

They refused him at his lowest point

At the age of 21, Adam had ambitious plans for his future. Believing in his capacities, he decided to take a chance on himself and his business idea.

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.

Adam Deering in Daily Mail

He walked into the bank fully prepared, but got a crushing response.

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.

Adam Deering

“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,” Adam continued.

But he never gave up on his plan

Despite the disappointing defeat, Adam never abandoned his idea. At the time, he went right back to work, toiling hard from the floor of a small office as he could not afford a desk and a chair.

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,” he continued.

He finally got help from a Good Samaritan neighbor, Chris, who helped him set his life straight and get a job. He ended up working in debt management (ironically) and then quit when he was ready to launch his own venture.

18 years later, the tables have turned

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Big thanks to @ladbible for writing this story. 🙌🏻 . . So last week I bought the bank building where I got knocked back for a loan at 21 years old! 🙌🏻😂 . . So when I was a broke ass 21 year old I had a dream to work for myself and setup my own business! 👍🏻 . . I created a business plan, made an appointment with the bank manager to speak about setting up and account and getting a business loan, before I went into the bank I prayed as I had zero cash and had no idea how I would realise my dream without it. 💯 . . I sat down with my fingers and toes crossed and the woman who was the bank manager took my business plan went through it quickly and in a really patronisingly tone said the problem is Adam you are a bit young and you have no business experience. This isn’t something we can do at this stage. 🤦🏻‍♂️😫 . . My heart sank, I felt humiliated, frustrated and sad. I had no plan B. 💔 😢 . . I had already quit my job and had managed to scrape enough money together to pay the first quarters rent and I got a phone-line off BT which was on 30 days credit terms. . . I didn’t have any money to buy a desk or chair so as a result I spent 4 months on the floor with the phone off BT and the Thompson Local. 😊 . . No marketing budget, no Google or Social media to even advertise in, just a burning desire to succeed! 🔥 . . So I bought the bank building where they declined me for the £10K business loan! 🙌🏻 . . For me this was a great day! 🤩 . . Remember your current situation is never your final destination! ✊🏻💪🏻 . . #findtheaction

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While the beginnings of his venture were not easy, Adam continued to believe. He spent his last pennies from his sales salaries to rent a small office.

There were lots of times where I thought it was the end, but I refused to give up and it paid off.

Eventually, his hard work yielded amazing results. Deering now heads five multi-million companies, so he could well afford to buy the bank’s building for £450,000.

His plans is to renovate and convert the building into an 8-apartment complex and a retail unit.

Mr Deering spends his free time now as a motivational speaker, helping to guide others as he has been guided himself back when he was a teenager who was expelled from school and spent his time doing small-time crime before falling into a cycle of getting fired from jobs.

The businessman said: “Building a business from scratch certainly isn’t easy and there are always times when you wonder if it is going to work out. The key is to stay true to your vision and keep going, there will always be hurdles to overcome.”

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.

Determination always pays off

Adam was able to turn a defeat into an incredible win, even if it took years for it to materialize. Buying the bank that refused him was a celebration of his own resilience.

To me, buying the bank building brings things back full circle and it shows that I was right to keep believing in myself.

Adam Deering

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