Business purchase finance
Discussion
Hi,
I have been looking to buy a business for a while and I am a little unsure about the finance side of things.
I have seen two businesses that I am intrested in first is freehold (£298,000) and other is leasehold (£74,000). I can't seem to find any lenders that are happy to lend against the leasehold business and I understand their reasons behing this.
My current thinking is to get a bridging loan and buy the freehold business and then sell the property and rent it back then from the sale of the property pay a large chunk off the loan.
Both businesses are making good money and the reasons for sale are retirment of the owners.
In all honesty I don't have a huge deposit to put towarsd the purchase and that is why the leasehold business suits me better.
Any thoughts?
I have been looking to buy a business for a while and I am a little unsure about the finance side of things.
I have seen two businesses that I am intrested in first is freehold (£298,000) and other is leasehold (£74,000). I can't seem to find any lenders that are happy to lend against the leasehold business and I understand their reasons behing this.
My current thinking is to get a bridging loan and buy the freehold business and then sell the property and rent it back then from the sale of the property pay a large chunk off the loan.
Both businesses are making good money and the reasons for sale are retirment of the owners.
In all honesty I don't have a huge deposit to put towarsd the purchase and that is why the leasehold business suits me better.
Any thoughts?
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