How to fund venture?

Brand0

Ok, so following 4 heart attacks 18 months ago I've decided I want to open a smallish business. I was looking to rent a commercial property like most people but one has come up for sale, only I'm not quite ready as I am about to put my btl house on the market - the idea was to sell to fund the business. I could cover half the value of the commercial property with the sale proceeds, even allowing for start up costs.

How do I go about getting short term (6 month) finance of 160k?

Arleen

You can try to go to the bank, but you are unlikely to get anything unless the financing will be secured against something because of businesses even when started with people who are experienced in running them, in the right market, with solid plans, still have a massively significant failure rate. The bank will merely ask how will you repay the 160k then, and if you will say that you make enough to pay it off your salary... well, save up and start the business in a year or two.

robber2

Well its your choice but after 4 heart attacks most small business owners would be looking to CLOSE the business not open one. If you are determined to go ahead Id follow Arleens advise and start with rented premises.

Good luck

Rob