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Quickest and best way to raise �150000
4 Answers
I need to get a loan to buy a business, we have a house worth around �110000 and have �40000 equity in it, the business makes �3000 per week with 50 - 60GP, we want to know if this is possible to raise this cash from somewhere my patner is going to arrange a meeting with his bank but we would like to know all the options and any advice. Thanks In Advance. Donna
Answers
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For more on marking an answer as the "Best Answer", please visit our FAQ.Donna,
Please be very careful,a business only "MAKES MONEY"
AFTER you pay all the overheads.Ask for proof of trade and
gross profit,(ie at least 3years trading results from the
sellers accountant on headed paper)Do the homework
on any business you might be interested in. If everything is
legit,go and see the bankmanager,watchout for too high interest rates,and don't forget the loan repayments will be a
huge part of your overheads.Last of all think twice !
Good luck and best wishes to you both.
Please be very careful,a business only "MAKES MONEY"
AFTER you pay all the overheads.Ask for proof of trade and
gross profit,(ie at least 3years trading results from the
sellers accountant on headed paper)Do the homework
on any business you might be interested in. If everything is
legit,go and see the bankmanager,watchout for too high interest rates,and don't forget the loan repayments will be a
huge part of your overheads.Last of all think twice !
Good luck and best wishes to you both.
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