Need a loan of £100,000

Pharmacy1

Can some one please advice me to get a loan of £100,000
My husband wanted to buy a pharmacy shop.
bank was happy to lend us but the valuation report came negative.
Is there any other way.
I can get loan from

d70cw6

why buy a pharmacy if it has negative value? surely the vendor should be paying you to sell it to you.

Nebulous2

I don't think it will be possible to get around this.

The bank have obviously listened and accepted that your proposal was credible or they would have rejected you before this. That should give you some positives going forward that your track record, deposit and ability to business plan are enough for people to pay attention.

However they have decided that this particular proposal doesn't stack up. It is their money. They can decide when the risks are too great. They may have done you a favour.

Other options? Borrow from friends / family. Mortgage your house. Save and pay it cash. One of you increase your earnings elsewhere and use that to subsidise the shop.

None of these might be possible or easy, but you may well find there simply isn't a way out of this.

DCFC79

Pharmacy1 wrote: »

Can some one please advice me to get a loan of £100,000
My husband wanted to buy a pharmacy shop.
bank was happy to lend us but the valuation report came negative.
Is there any other way.
I can get loan from

I don't believe there is.

Why a pharmacy shop ?

Crystallady

There are some pharmaceutical supply companies that will provide finance to purchase a chemist/pharmacy, AAH is one. However I'm pretty sure they'd want a positive valuation to support the repayment schedule.

DCFC79

Here is the OP's original thread they posted 15 minutes before this 1.

OP theres no need to post the same question or same thread even 3 times, just once is enough.

dealer_wins

If you can stump up 50% (£50000) im sure it would be looked at more favourably. It would show the lenders that you truly believe it has value and potential.

At the moment you are asking for the lender to 100% fund your possibly "pie in the sky" investment idea, and if it fails you can just walk away and shrug your shoulders.

Now do you see why you are not getting the finance.

tomtontom

Only reason for that was the valuer said that I can't work more than 48 hours and I have already made plan to work 80 hours per week
Which is usual for an independent owners.

Your business plan is not sustainable. No one can healthily sustain an 80 hour working week, let alone a pharmacist that needs to be alert at all times.

I cannot see anyone lending to you until you have a sensible staffing plan.