Need help!

[TonyY]

Hi guys,

I need a business loan of $200k

if any brokers out there that can help me with the loan it will be much appreciated.

Thank you.

 

[Rooster]

Hi guys,

I need a business loan of $200k

if any brokers out there that can help me with the loan it will be much appreciated.

Thank you.

Why aren't you being proactive and contacting them directly? Most have links to their business or you could PM the broker who's style of post and willingness to help stands out to you.

Rooster

 

[Shahin_Afarin]

Do you have residential security to use? If not what is the business loan for? i.e. Franchise? Type of Business? Best to sit down and speak to your broker or banker.

 

[Aaron_C]

Yes we need a lot more information than that...

 

[TonyY]

Hi guys,

Yes I do have residential security to use. I want to open 3 cafe kiosks.

 

[Burnar]

Alarm bells are ringing.

http://somersoft.com/forums/showthread.php?t=82698

http://somersoft.com/forums/showthread.php?t=73392

 

[tobe]

Hi guys,

Yes I do have residential security to use. I want to open 3 cafe kiosks.

start with one, and get vendor finance for it. Or even better, start off working for someone who owns a kiosk and learn the ropes, then see if they will sublet you a kiosk short term and you can see whether it is the golden goose without getting your fingers burnt.

NB, to get a business loan secured by residential property, that property would need to have equity (value minus loan amount) of at least $240,000. You would need to provide a detailed business plan to the lender.

 

[Terry_w]

No chance based on the info in the other posts - Maybe I shouldn't say 'no' but extremely unlikely you will get a loan for more than the property is worth.

 

[Aaron_C]

CBA does those 100% finance loans but I think it's only for certain businesses/franchises.

 

[Sean M]

Be harder if your opening your own cafe, not a franchised model etc with proven business plan etc.