pjorange

pmooredc

Large business loan advise needed. Can anyone advise me on the best place to go looking for a large loan for business equipment. I need $40,000 and if possible would like perhaps a 6 month no interest period or no pay period with the potential to pay back £20,000 in a lump sum after 1 year and the remaining amount fully paid in year two potentially.

Mark7799

Start with a comprehensive business plan to show any potential lender that your business has the potential to generate sufficient income to meet repayments as they fall due. You MAY find someone who will allow you to repay capital on those terms but I would expect any lender to ask for interest to be covered as a minimum during the life of the loan.

What's the loan for? (if it's machinery there may be grant finance available)
How much is the total cost of this transaction - lenders are reluctant to lend a high proportion of a project - they will expect some to come from you, otherwise they are shouldering all the risk if things go wrong.
Do you have any collateral you could pledge in support of any borrowing?