Man Buys The Bank That Refused Him A Loan When He Was Broke 18 Years Ago

They say revenge is sweet, and maybe after reading today’s story, you’ll agree. Imagine working every waking moment coming up with a solid business plan- one you are sure will succeed. So, you go to ask for a bank loan. However, instead of getting approved, you are met with dissatisfaction and doubt. It’s a heartbreaking feeling. Most people would give up right then and there. But not Adam Deering. In fact, he got the best revenge. He became a success.


Raised in Greater Manchester by his grandparents, Adam was a bit of a wild child. He was expelled from school at age 14 and ran into plenty of trouble. Adam did a 3 year run in the RAF (Royal Airforce), and then returned home where he went from failed job to failed job. Eventually, Adam landed a sales position at a debt management firm, where he finally found something he enjoyed. By the age of 21, he decided he could do something like this on his own, and attempted to start his very own venture.

man sitting at desk at night
Photo by cottonbro from Pexels

In Need of a Bank Loan

Adam had what he considered to be a solid business plan. The only thing he needed and didn’t have was money. So, naturally, he went to ask for a bank loan. We’ve all heard the phrase “money doesn’t grow on trees.” Apparently, the manager on duty that day at the bank lived by that phrase.


Before entering the bank I prayed because I had no cash and had no idea how I would fulfill my dream without it,” Adam explains to Entrepreneur Magazine. Unfortunately, the bank manager denied Adam the £10,000 loan he needed that day. “In a very condescending tone, he said the problem is that Adam is a bit young and you have no business experience. This is not something we can do at this stage.


Devastated and without a backup plan, Adam didn’t know what to do. He felt “humiliated, frustrated, and sad.” Even worse, he had absolutely no money at all. His phone was borrowed, and the little money he did have was already spent on the office rent. Adam wrote on his private Instagram account, “I had no money to buy a desk or a chair, so I spent 4 months on the floor.” Every day, Adam toiled and worked hard. He never gave up, even after being denied that important bank loan.


Read: This Rwandan With No Education Built His Own Electric Power Plant


Effort Pays Off

After all that hard work and determination, Adam saw the rewards for following his dream. He built a successful debt management company, which he sold for £5 million ($6.4m) in 2014. But, that’s not where Adam’s story ends. A few years later, Adam found himself the head of five different multi-million-pound businesses. Known as a motivational debt-management speaker, he has almost a million followers on Instagram. Apparently business is good because it allowed Adam to get the sweetest revenge.


Adam took a small chunk of his profits and bought the property of the very bank that denied him his bank loan all those years ago. That’s right, he spent £450,000 ($580k) to exact the perfect revenge.

Adam Deering standing outside the very bank that denied him his first loan.
Adam Deering Instagram

Read: True Solidarity: Homeless Man Starts Company, Becomes Rich and Hires Only Other Homeless People


Adam Deering spoke to LadBible in 2019 about his route from pauper to a prolific advisor and mentioned the emotional toll the entire process took.


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. I’d put my heart and soul into the business plan and I remember having my fingers crossed under the table as I nervously waited for the manager to go through it.

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

Adam Deering – Ladbible

Plans for the Future

After buying the bank property, Adam let the world know of his proposed plans. He intends to turn the building into luxury apartments, with 8 units available. The cost to upgrade and make those changes to the building will be around £500,000. Adam isn’t worried about the costs and plans on making more money soon.

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

Keep Reading: At 11, This Boy Runs a Successful Recycling Company


  1. Entrepreneur buys a bank building that denied him credit for his business.” Entrepreneur. October 1, 2020
  2. Businessman Refused £10,000 Loan At 22 Buys The Bank That Turned Him Down.” LadBible. Rebecca Shepherd. September 29, 2020.
  3. Adam Deering: The influencer who’s made millions through debt insolvency.” Metro. Jessica Lindsay. November 22, 2019.
  4. Adam Deering.” Instagram.
Jade Small
Freelance Writer
Jade is a freelance writer and content creator from South Africa with over 7 years of experience writing and creating. She's also a proud single mom to a super 13-year-old boy.