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Hi

I am trying to buy out my ex and start a business. It was my business advisor who suggested that this property filled the need for my planned boarding kennels..

I will have about £100.000 to invest (my share from the sale) but then I have to raise likewise (my ex share) and the outstanding morgage.

Interestingly I was first told that I would only have to find half of the outstanding morgage the rest was down to my ex to pay off!

of course thinking about it - this is obviously not right!

Anyhow one bank is interested (but I realise it is a large debt to service until my business starts paying its way).

I am looking researching grants as well as grants from other sources outside the banks (but they have a shorter payback period.

Anyone have any good pointers please.

Thanks

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You need a business plan to show how you project income and expenses over a five year period. The fact that you have real estate as a partial collateral is good but since the financial collapse it isn't what it used to be. Is the kennel already functioning? Forget the bank because they are going to be very tight for the next few years until things get back to normal.
You need to analyze competition and the potential for revenue. You need to show how you will market your business and a strategy for development and growth. www.fundingcoalition.com

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