gatchb
Jan 19 2005, 12:46 PM
Three work mates and myself are looking onto buying a company off our boss as he is thinking of selling up.I know I need a business loan to fund it , but I got to put some of my own money in to. i am looking at about £15,000 to £20,000. What is the best loan to get ,and where do I get it from?
loanuniverse
Jan 19 2005, 03:34 PM
For such small amount consider getting the bulk of it from a personal loan. Aside from the risk of putting your residence on the line, using the equity on your personal home would be one of the cheapest sources of funds.
There is a possibility that a business loan could be arranged, but the fact is that everything is so dependent on the particulars of the deal that without more information it is difficult to give good feedback.