Anyone who has looked in to buying a business has had the same thought; how much can I borrow. The finance options available are directly impacted by the business that they’re going to buy. So, you don’t know if you can afford that business until you apply for finance. Catch 22!
How do you get past this? Getting finance in place can help guide your search and help you negotiate with the vendor, but, depending on the type of business, you may need to identify a particular business first to get the finance.
Who can help? Speak to a broker as depending on what you are looking to do, and your circumstances, they can talk you through the options available. They can also tell you when the right time to apply for finance might be and to who your finance application should be sent to.