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getting commercial loan for business shares purchase
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aspire2707
Posts: 50 Forumite
in Loans
hello,
i hope you could help me a bit
i am splitting company with my business partner and i am buing his shares and stock.
i won`t be able to pay the whole ammount from my money and i was hoping to get a commercial loan
1. Is this difficult to get?
2. Would it be ok for bank if they know there is a change in company? (purpose of the loan)
3. Could it take it for diffrent purpose and use for paying off my business partner? (stock purchase)
4. Does it take a long time to get arround 50k from bank for business?
5. Would it be better to use broker?
6. What percentage should it expect for 50k taken for 60 months?
i hope you could help me a bit
i am splitting company with my business partner and i am buing his shares and stock.
i won`t be able to pay the whole ammount from my money and i was hoping to get a commercial loan
1. Is this difficult to get?
2. Would it be ok for bank if they know there is a change in company? (purpose of the loan)
3. Could it take it for diffrent purpose and use for paying off my business partner? (stock purchase)
4. Does it take a long time to get arround 50k from bank for business?
5. Would it be better to use broker?
6. What percentage should it expect for 50k taken for 60 months?
0
Comments
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If you want a £50K loan I hope yo have a very detailed business plan and £50K cash/security to give the lender!0
-
dealer_wins wrote: »If you want a £50K loan I hope yo have a very detailed business plan and £50K cash/security to give the lender!
Would they take director`s guarantee?0 -
aspire2707 wrote: »Would they take director`s guarantee?
If the director is willing to put £50K+ of liquid assets on the line YES0
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