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13-04-2005, 08:17 PM
  #1  
Business Director
 
Join Date: Apr 2005
Posts: 83
If you read in the finance forum you will read that our plan to own a B&B have basically gone down the drain

We still would like a business and Plan B is to own or lease a shop. (Well actually Plan C because Plan A was to own a campsite, Plan B a shop and Plan C a shop) I know what you are thinking "Make your mind up!"

We arent particularly fussed where in the UK we live, so longs it isnt where we are now! We want a completly fresh start.

This means that whatever we have must have accommodation (at least 2 bedrooms, preferably 3)...which is our next problem. Not many shops have accommodation!

There isnt, at the moment, anything that we particularly want that has accommodation- thinking baby goods shop, pet shop, gardening shop (maybe), camping goods shop (maybe), gift shop...we really are quite flexible (which is probably a bad thing!)

We have looked for an empty shop that we could stock ourselves, but the ones we have seen, WITH accommodation are over £100,000 which leaves us little money to buy stock with (our house will sell for around £80,000 and we have been told we would be able to borrow about another £80,000)

I dont really know what I am asking from this, maybe advice on what we could do!
13-04-2005, 11:24 PM
  #2  
inbakumar's Avatar
CEO
 
Join Date: Jun 2004
Location: London
Posts: 271
Sambo,

The first thing to do is not to lose hope! In business, you get good times as well as bad times. Put this down to your experience. Also, I hope you have seen my post in the finance forum section.

It is also important for you to understand that there are so many lenders out there who do not have a high street presence but offer very good loans at competitive rates and terms. For example, we know of a lender who offers the following for the purchase of good quality Retail / Sub Post Offices.

Loan size: £100k - £1m
Purpose: Purchase, refinance, extension of freehold or long-leasehold property/business, capital raising
Term: 5 - 25 years
LTV: Retail - up to 75% MV/PP
Post Offices - up to 80% MV/PP
Rates: From 2% - 3% over Bank Base Rate
Fees: 1% arrangement fees plus valuation and legal fees

Good luck and best wishes,
__________________
Joel

Interested in 100% Property Development Finance?
We can also provide competitive Trade Finance quotes for importing goods from China.

babylonbusinessfinance.com
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