Home – New Forums Money matters Finance options to purchase an established business? Reply To: Finance options to purchase an established business?

#1210153
LucasArthur
Participant
  • Total posts: 3,171
Up
0
::
MikeDav, post: 251008, member: 61549 wrote:
I would suggest talking to your bank first. For the amount of money that you are talking you may actually be able to fund it through some sort of personal loan. Regardless of who you borrow off you can expect a relatively high interest rate if you don’t have property as security.

Always an interesting option.. The banks themselves though, advise you CAN NOT borrow money under a personal contract IF the intended purpose is for commercial lending.. How does one prove that? thats the million dollar question, although ultimately you are not meant to borrow under a personal loan to fund a business.

Jason Ramage | Lucas Arthur Pty Ltd | E: [email protected]   P: 61 3 8324 0344    M: 61 412 244 888