I am looking into buying a business. It has been owned for the past 10 years and is being sold due to retirement. It has a healthy profit and turnover.
If I had 20k to put down is there a chance a bank would lend me a further 60k without putting a house as security? Or would that be a definite for such a high loan amount? My husband has a secure well paid job and I am currently self employed in another business sector.
I realise I need to go and speak with the bank for accurate information but wondered if anyone could give me an idea.
Any info would be greatly received.
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Buying a business - loan information?
3 replies
HMT13 · 20/07/2013 23:27
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