looking for loan for £1.5m to purchase business.
bank will give me £1,000,000 so i need £500,000.
bank interest rate will be 4%, investor for the £500,000 will be 12-15%.
Huge difference in interest so was wondering if there are any other ways to source the £500,000 at a better rate?
i'm thinking along the lines of linked finance where you can get £250,000 for 8.5% (potentially) but you need to be in business for two years for this.
if i was to apply for £500,000 from another bank would get at 8% and would only need £150,000 crom investor at 12-15%.
Doubt another bank would give me loan for this.
Just wondering if there are other methods like this i could explore to reduce the overall interest rate.
bank will give me £1,000,000 so i need £500,000.
bank interest rate will be 4%, investor for the £500,000 will be 12-15%.
Huge difference in interest so was wondering if there are any other ways to source the £500,000 at a better rate?
i'm thinking along the lines of linked finance where you can get £250,000 for 8.5% (potentially) but you need to be in business for two years for this.
if i was to apply for £500,000 from another bank would get at 8% and would only need £150,000 crom investor at 12-15%.
Doubt another bank would give me loan for this.
Just wondering if there are other methods like this i could explore to reduce the overall interest rate.