Hello everyone,
I've been on this forum for a few weeks now and have read alot of interesting threads.
I've decided I want to buy and run my own business. I've got my eye on a local business that is up for sale. The issue is that the business is on sale for £30k + . The stated turn over for the running business is such that the initial investment can be retrieved back within 6 months of business.
With both a wife and rent to pay for I cannot afford to pay the asking price for the business.
What would be the best way to approach a bank? I have never taken a loan out before.
Does it have to be my bank or any bank?
Are there different rates for business customers?
Thanks in advance