Urmston millionaire BUYS the bank that refused him a loan when he was broke

Self-made Manchester millionaire Adam Deering has shared the “bittersweet” moment he snapped up the old bank that once refused him a loan when he was starting out as a “broke as a joke” 21-year-old.

Finance and property entrepreneur Adam has had the last laugh – by buying up the former RBS bank building on Crofts Bank Road in his hometown of Urmston where he was once knocked back for a £10,000 business loan when he needed it most back in 2002.

Adam, 39, has gone on to amass a multi-million pound business empire, and shared the moment he collected the keys for the empty former bank with his 445,000 followers on Instagram.

In an Instagram story he said: “Today’s quite a nostalgic moment for me. I went into this bank when I was 21 and asked for a £10k business loan and the bank manager was really nasty, a bit funny with me.  

“So what I’ve done is I’ve gone back and bought the bank building. It’s a bit of irony, bit bittersweet, they said I wasn’t experienced enough in business and didn’t know what I was doing. So here I am, 15 years later, and I’ve gone and bought the building.”

He filmed his first steps going back into the bank, showing his followers on his Instagram Stories the very room that he sat in to be refused a bank loan, before heading down into the old bank vaults in the basement.

He recalled: “There was the little room I sat in and they said no, I couldn’t have a bank loan.”

He paid £450,000 for the bank building, and now plans to spend another £500,000 on it to develop eight apartments and one retail unit.

Rags to riches success

Adam has had an incredible journey to success – forging a multi-million pound business empire despite being expelled from school at the age of just 14 and never gaining any formal qualifications.  

He battled back from a troubled upbringing and spiralling out of control in his youth to show a steely determination to succeed in business.

He founded a successful debt management company which he sold for £5m in 2014, and is now at the helm of five multi-million pound businesses.

The dad-of-three uses his rags-to-riches experiences to try to inspire others to find success in their lives, and has become known for his Instagram messages to “find the action”, while sharing photos of his trips abroad and his passion for supercars.

He received hundreds of messages from followers after sharing the news about the bank.

“I knew who I was and believed in me”

He said: “People have been saying such lovely nice things about me buying the bank building.  I went into that bank at the age of 21 and got knocked back – all the sadness, and frustration and the vulnerability that came with that, I was broke as a joke and skint and just wanted to better myself and someone had the power to help that and they just said no, just dismissed me.

“I think a lot of people identify that because we’ve all been knocked back for a loan when we’ve needed it right?

“Just remember guys your current situation is not the final destination.  Greater things are ahead, stay strong man, find the action”

 

View this post on Instagram

 

Hustle so hard that one day your whole life becomes a flex! 💪🏻😎 . . I remember being 19 years of age and after getting knocked back from an interview for a job at Kellogg’s I was selling Manchester United shirts out of the boot of a car and anything else I could hustle to make some money. 💰 . . My family didn’t understand and thought I was a bum, my friends were all starting real jobs and careers, girls thought I was just a loser with no future. 🤦🏻‍♂️🤷🏻‍♂️ . . They were wrong! They underestimated me! I knew who I was and I believed in me! I wasn’t a bum at all I was hustling HARD every f*cking day, I just hadn’t hit on the right wave yet! Fast forward the tape a few years and the tables can easily turn on the people who don’t believe in you! 💯 . . You see at a young age I was unruly and unemployable, I knew the only way I was ever going to get anywhere in life was by doing something for my damn self! . . Don’t ever worry about other people’s judgements. Let them be busy judging with other small minded folks whilst you are busy hustling hard for a better life!👍🏻 . . You see I believe those who judge are simply holding up a mirror to their own failures, their own insecurities, their own limitations. 💯 . . Trust me when I say this one day those very same people when they see you doing well will crawl back out and want to see you again and tell people how they know you. 🤪 . . Never ever underestimate a broke as shit kid with a fire in his belly! 🔥 He already knows where he wants to go and that’s a f*cking powerful thing! ✊🏻 . . #findtheaction

A post shared by Adam Deering (@adam_deering) on Sep 15, 2020 at 11:20am PDT

Sharing recent photos from a luxury holiday to Barbados, he posted: “Hustle so hard that one day your whole life becomes a flex!  I remember being 19 years of age and after getting knocked back for a job at Kellogg’s I was selling Manchester United shirts out of the boot of a car and anything else I could hustle to make some money.

“My family didn’t understand and thought I was a bum, my friends were all starting real jobs and careers, girls thought I was just a loser with no future.  They were wrong!  They underestimated me!  I knew who I was and I believed in me!”

He went on to explain: “You see at a young age I was unruly and unemployable, I knew the only way I was every going to get anywhere in life was by doing something for my damn self!  Don’t ever worry about other people’s judgments. Let them be busy judging with other small minded folks whilst you are busy hustling hard for a better life!”