We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

Loan to purchase a business

gooders
gooders Posts: 2 Newbie
in Loans
My wife is buying a salon based hairdressing business. She needs to borrow £30,000. Which loan is the best way to fund this type of purchase.

Comments

  • WildHaggis
    WildHaggis Posts: 53 Forumite
    Most lenders will not lend for business purchase. A commercial broker may be able to help.

    It has been known for people to apply for secured, or unsecured loans, for the purposes of 'debt consolidation', or 'home imporovements'. The lenders do not check what you actually use the funds for. You may already have done the home improvements, for instance. I'd not ever recommend this practice.
    I am a Mortgage adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 347.2K Banking & Borrowing
  • 251.6K Reduce Debt & Boost Income
  • 451.8K Spending & Discounts
  • 239.4K Work, Benefits & Business
  • 615.3K Mortgages, Homes & Bills
  • 175.1K Life & Family
  • 252.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture