We have helped several clients purchase a Beauty Business. It’s important to know what to look for and how to submit the deal otherwise it can easily be dismissed by a banker or not approved, especially if you don’t have any property as security.
In this case the client did not have any property as security however she had recently sold another business in another state therefore had accured a sizeable deposit. This was great, however most of this deposit was going to have to be contributed to the purchase of the new business. This meant when the time came to purchase an owner occupied house in the new state, she would have had very little if any deposit. We were able to use the cash as security to purchase the business, allowing the client to borrow as much as possible for the business and ultimately when the time comes to purchase a house we could complete a security swap allowing access to the deposit monies, resulting in the loan associated with the house purchase is minimal. We have previously used cash as security to purchase a business here.
Purchases for businesses can be quite complex and having someone on your side to talk with the Lenders to plead your case in a way they know how certainly goes along way in helping get your loan approved. We have been lucky to help a number of other clients purchase beauty businesses. Here are some other examples Case Study 1 & Case Study 2
So if you are looking for a Beauty Business Loan Contact Us on 03 8823 5400 or complete the form below and we’ll get in touch with you.
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