Lend me a million.......

[JumboBeef]

Seriously, how do people raise funds to buy businesses (unless they have part funds already).

Seen a property-based holiday business for sale for a £million. We have the experience and proof of making this type of business work in the past but how do you make the jump to making it happen?

Or pie/sky?

[Ginge R]

Jumbo,

Setting aside potential high costs and well founded general antipathy towards High Street banks, have you thought about saying that to your bank manager (or whatever they're called these days)? As a first port of call, there's worse ways of setting off.

[gvij]

A bank will want security for the loan sufficient to cover themselves if it goes tits up. Ie a charge on your house sufficient to satisfy themselves. They might be happy to take security in the business though if it owns property. As far as goodwill goes to them its worthless as you could easily destroy it and its hard to value anyway as well as capitalism being brutal and demand changing overnight increased regulation destroying profit and someone else coming out with something better for less.
Usually people start small who dont have equity and build up rather than buy something for x million. The other thing is that people often sell when the owner sees it going down the pan in the future and incomes decline or when the highest potential is reached in their eyes so be careful in parting with hard cash unless you see something in it the owner doesn't.