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Business Loans: which one?
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jacquit_3
Posts: 22 Forumite
Hi,
I'm about to buy a business and need a small amount of additional funding, approx £7k.
I was wondering which bank/lender is currently offering the best (obtainable!) rates for business loans.
I will be putting approx £37K of my own money into the purchase and expect to make £30k pre tax net profit in my first year.
Also, is there anything to stop me just taking out a personal loan? what would be the difference apart from the fact I'd get a better rate?
Many thanks in advance
I'm about to buy a business and need a small amount of additional funding, approx £7k.
I was wondering which bank/lender is currently offering the best (obtainable!) rates for business loans.
I will be putting approx £37K of my own money into the purchase and expect to make £30k pre tax net profit in my first year.
Also, is there anything to stop me just taking out a personal loan? what would be the difference apart from the fact I'd get a better rate?
Many thanks in advance
0
Comments
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any help or advice??? anyone!0
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Have you tried your own business bank yet? They are the most likely candidates to offer you money. Hopefully your hard cash up front will influence their decision as they are not exactly keen to lend money.0
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far as i'm aware lowest business finance amount possible is £20/25k. credit cards or secured residential loan only bet surely? UNsecured loans don't actually exist currently.remember always -'' life shrinks or expands in proportion to ones courage''0
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