Question- Raising finance

[Kiran123]

Hi There

I would to ask if anyone had any ideas on the likelyhood of me securing finance on the below..

Corporate Chauffeur car company

Year end June 2008, T/O. 650k, GP. 175k

Figures are down a little since the Credit cround but still look strong. The Ltd. company has a 22year track record with very high records of TO over the last 4 years.

The Sale price is 115k.

I have security in the form a BL property with this equity.

What are the chances of me securing finance from a bank on this? I want to borrow all of the asking price. Do you think they will require money to be input in by myself? or will the security be enough?

Any help would be great..

Cheers

Kiran

 

[Gillie]

Have you had a recent valuation done on the property by a professional??

 

[Maslins]

I'm not sure many lenders would want to lend 100% of the asking price of a business.

Can you not remortgage the property to release the equity?

 

[profitxchange]

I would suggest you will have problems raising the money from anywhere other than crime.