Home and Business Loan...? - home loan franchise
First I looked into a franchise business. The company is a cafe, which would cost about $ 100,000, more or less. It's a bit difficult to get a business loan, because I am in debt and have the best credit score. I thought, and if there are loans that can have a person up to $ 100,000, your mortgage or loan payments add. So I have a house of $ 160,000, and could not refinance or a loan of $ 250,000 to 300,000 U.S. dollars, more or less, which includes a house and get a commercial loan. I thought of the idea, because I know of loan you can borrow a certain percentage of your mortgage debt and other things. So it is there, or have other ideas? Thank you for the answers to come my way, or tips!
Monday, January 18, 2010
Home Loan Franchise Home And Business Loan...?
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2 comments:
Use any credit whatsoever for this morning? I mean, 20% or more? If so the best approach for you is an SBA loan. Use your house as security and gives money to start, but there are finnacing 100%. If you have decided to choose this solution, I hope he has put enough trust in his plan to put your house in jeopardy. Because that is exactly what an SBA loan.
If you found any money to your business, you have to watch the franchisor to help you. If your business model is very strong, with several units already in reducing the risk of many followers. It may well be some banks that are willing to be associated on the basis of the model past financial performance risk.
Another source is the family. Do you have relatives or friends, I believe in you, to build enough equity and you invest in your vision? If so, the conditions are always the best thing going in this direction.
Forget the investors in venture capital or angel funding. They seemtion for the purchase and ultimately even a part of a company that cutting edge and is profitable. What they do not back the bill. Besides these guys are always investing in franchising. Finally, with a franchise purchase the right to manage another store. Not bad, but it will not make you a millionaire not. You basically buy a job.
Good luck. Hopefully it will work for you.
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