Ive just been to Spain for holiday and saw this closed down pub, its in a prime location next to all the English hotels, with two big palm trees growing outside the door, and would make a great little nightclub, hes asking for half a million euros for it, and would want that much spending on it again, how do i ask the bank for a million euro loan? and would it have be a bank in England or Spain?
2006-10-15 08:05:37 · 16 answers · asked by Anonymous in Business & Finance ➔ Credit
go to the bank and ask for one
2006-10-15 08:06:58 · answer #1 · answered by fran g 1 · 0⤊ 0⤋
It is a bit of a dream isn't it? If you were experienced in the trade you would know how to go about getting loans etc., You would most probably have to go to a Spanish bank, you have to ask yourself why its closed down. You will have to do a business plan with a forecast of what you hope to achieve in takings, where your market (customers) will be coming from, how many people pass the door during the hours you wish to trade, where will they park,
where will you get tradesmen to renovate the pub, where you obtain the licence, and also locate suppliers and staff. You must have a Spanish Lawyer and a knowledge of the language is going to be pretty useful and loads more things to think about.
Good Luck dreams can come true with luck
2006-10-15 08:30:39 · answer #2 · answered by AndyPandy 4 · 1⤊ 0⤋
Working for a bank I know you have to have good credit (sometimes collateral is needed), solid credentials to show you know how to operate a business which may also include some sort of a business plan. A business plan would be most helpful in providing your case to the bank that them giving you a loan would be a wise choice. Also, it wouldn't hurt to try both England & Spain.
If that doesn't work their are always investors out there looking to help people out that they think will help them to earn them money.
2006-10-15 08:19:12 · answer #3 · answered by Matt 4 · 0⤊ 0⤋
Have you tried applying? You will need a business plan. Get in touch with Barclays Off-shore as they can set up the account in Spain for you in a branch closest to the site of the nightclub
2006-10-15 08:09:14 · answer #4 · answered by MGN2006 4 · 0⤊ 0⤋
Research is important here do the ground work before presenting your application to a bank & if possible find a good accountant & a partner you will not be able to manage this alone in today`s economic climate Good Luck.
2006-10-15 23:06:50 · answer #5 · answered by edison 5 · 0⤊ 0⤋
You can ask your own bank explaining you are on a holiday trip to Spain and request them for it or visit there Spain Branch if they have,if not they might have associate bank there.
2006-10-15 08:10:10 · answer #6 · answered by C P 2 · 2⤊ 0⤋
The Costas are rife with protection rackets so get ready to pay the gangsters if you want to set-up a bar or club.
And ask yourself, do you really want to deal with pissed Brits in Spain? I can not think of anything more grim and tasteless.
2006-10-15 08:42:16 · answer #7 · answered by speed_john_t 1 · 0⤊ 0⤋
Go and see an independant financial advisor who speacilizes in property abroad. Your more likely to get borrowing this way, as bank have quite strict guidelines.
2006-10-15 17:16:28 · answer #8 · answered by surf05 2 · 0⤊ 0⤋
You would be better to borrow in Spain, as the eurozone interest rates are significantly lower than those in the UK. Also if you borrow in this country you are risking exchange rate fluctuations.
2006-10-15 08:09:19 · answer #9 · answered by cocoshitnick 2 · 0⤊ 0⤋
Apply online for a commercial loan at www.surefirefinance.co.uk
2006-10-15 08:43:31 · answer #10 · answered by Anonymous · 0⤊ 0⤋