How do I .... (financial question)

Raise £600k to buy a business? Would a bank lend that kind of money against a going concern or would they want to secure it as a business mortgage against my home. OR, If I sold my home, would they then take the money as capital and lend me the rest?

 

you need

business plans, financial projections, proof of commitment from yourself to making the business work

will a bank lend to you? probably if you have all the above and they look feasible. how much can you borrow? who knows, but the more you are willing to, or do, put in always looks good in their eyes.

it's your business after all and if you're not willing to part with any of your own cash, do you think a bank will give you theirs!

 

Thank you for the advice....

It's a huge scary step but, as you said, if I can't justify it to missen then how can I expect others to put their money forwards. Cheers.
Chris

 

Contact the Department of Trade and industry

Ask about grants and business angels.