Finance to buy a business

[Wilmslowboy]

Exploring potentially buying a business (very early days).

Any decent calculators about that allow you to punch in some details and come back with amount of depoist (cash) required, and likelihood to be accepted, likley interests rates ?????

If no calculators, who are the best people to speak to .....don't want the hard sell, how about peet to peer ??

Want a head line understanding , before I dig into it any deeper..... at this stage, I can share, sector, T/O. EBITDA, PBT, nett assets, business buy price likley to be circa £1M.


cheers

[anonymous-user]

It's quite difficult to borrow that amount without security.

Easier to borrow either a lot more, or a lot less.

What trade sector?

[Wilmslowboy]

desolate said:

It's quite difficult to borrow that amount without security.

Easier to borrow either a lot more, or a lot less.

What trade sector?

Service sector (Trade), few assest in the business (sub 25%) but I could give personal guarantee (equity in the home etc)
probably only looking for 50% of the buy price...less if I decided to do a SIPP (SSAS)

[anonymous-user]

Wilmslowboy said:

Service sector (Trade), few assest in the business (sub 25%) but I could give personal guarantee (equity in the home etc)
probably only looking for 50% of the buy price...less if I decided to do a SIPP (SSAS)

Starting point would be your own business bank. If remotely possible I'd avoid giving a PG.

Is there a bank that understands your sector? I'm in insurance and it's not an easy space at the lower end. When I had a bigger business people were throwing money at us.