I have an opportunity to purchase a business on the Gold Coast. We are local here and we have done a heap of due dilligence. The opportunity turns over about $1m per annum and is growing fast. There is about a 20% profit in the business so far and we are buying as a going concern.
My issue is that I need to raise $600k to buy it and I need to raise it in 7 days. I am happy to pay for the money (i.e % + back end profit on resale in 3-5 years) But need to raise ASAP.
Any ideas?
BJMACA
“Investing in the future South Africa”
Have you got property? you may be able to use this as security.
Could always use the FFF bank (Friends, Family and Fools) and use equity in their property.
It would take a bit longer then a week however it is a solution.Multiple Property Strategist
Investor Finance
[email protected]You will find it difficult to raise more than about 50% of the business value without additional security.
More information is required before a full answer can be given.
Why not look at the vendor to offer some vendor finance in the initial stage under say a 3 month trial period to make sure that you are happy with the business.
Cheers
Richard Taylor
Residential & Commercial Finance Broker
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