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Business advice ?

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  • 05-06-2012 10:46am
    #1
    Joe Gt
    Registered Users Posts: 165 ✭✭


    An opportunity of buying a well established , profitable small business has been put infront of myself and my gf to buy for a reasonable price , its in her line of business and would have been something she would have liked to do in a few years after she builds a client base and contacts in the business in the area .

    What are the chances of the banks giving us a business loan to buy the business ?

    Couple renting , combined wage of $145k , considerable savings of 15% of the purchase price , paying rent , no assets , here on my 457 visa ,

    What is the likelihood of securing funds from the banks ?


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    #2
    s.c
    Registered Users Posts: 270 ✭✭s.c


    Joe Gt wrote: »
    here on my 457 visa

    This is going to be a major issue when trying to obtain finance. I can't say for certain but because of the fact that you are on a temporary visa, I don't think any bank is going to give you any considerable amount of cash.


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    #3
    Joe Gt
    Registered Users Posts: 165 ✭✭Joe Gt


    I know it could be difficult , as far as I know its possible to buy a house on a 457 as an offshore investor and the deposit % is higher than normal .
    Hope yo get into the bank on Friday and see what they have to say about it all .


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