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Buying a business? How much can you afford?

Published 22/09/2015 08:27:11

If you are looking to buy a business, you may want to know how much you can afford to borrow before you start looking at potential businesses to buy.

But with the nature of commercial finance, the amount you can borrow depends on several different factors, including the business you are looking at purchasing.

So it’s a catch 22 situation!

There is no right answer. While getting finance in place can help guide your search and help you negotiate with the vendor, depending on the type of business, you may need to identify a particular business first, in order to get the finance.

So where do you go from here?

Speaking to your local ASC director might be a good start. Depending on what you are looking to do, and your circumstances, they can talk you through the options available to you, and help you decide when the right time to apply for finance might be.

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