2007-02-20 07:02:24 · 2 answers · asked by sola0323 1 in News & Events ➔ Other - News & Events
with respect If you have been in buissiness for 15 years I would have thought you have an idea of where to look. but your bank or building society may be a start.
2007-02-20 07:10:39 · answer #1 · answered by yahooisawastofspaceremoveme 3 · 0⤊ 1⤋
My dad just checked into this. You will not be able to get a grant. You need a full on business loan. You have to have a substantial down payment. They WILL NOT give it to you without. Most small time hotels start between 2 and 5 million. That means that you need between 200,000.00 and 500,000.00 for down. At least.
If you have the down then you have to choose something like 5 properties that you will try to buy. Funny thing when getting this kind of loan. The bank has to approve of the purchase. You have to have a property in mind first before you even walk in the door to get a loan.
So, down payment, have the property in mind, and a great business plan, and great resume and great credit.
If you want an investor then you need to subsribe to some magazines that help match people up with investors. I don't remember the name of them. My dad got lucky and ran into a guy who invests and they became friends and business partners right away.
Good luck
2007-02-20 07:10:58 · answer #2 · answered by Triplescoop 2 · 3⤊ 0⤋