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Financing a foreign business

Anthony Savage
Posts: 8
16/07/2008 08:40:46
I have found my dream business, I fell in love with it the first time I laid eyes on it, I have spoken to (and met) the owners, I have sifted through the finances. I really want this business.

This is the tricky part, the business is in a different continent, I dont have a problem moving there, the business has a vehicle worth more than the selling price and I would be willing to use this as security against a loan. I dont want to give up anything in the business, so a business angel is not an option. I dont have a good credit rating, and im scared that this will stop my application, would my security (worth 25% more than the cost) be enough to satisfy the banks? (obviously subject to the business plan adding up)

Thank you for taking the time to read this.

Tony

6 Replies
Jamie Goldsmith
Posts: 136
16/07/2008 12:03:27
Hello Anthony, what is the business you are buying and where is it? I would also need to know what is the purchase price and what is the additional security, you mention a vehicle, what is the value of the vehicle? Must say I am intrigued. I won't be able to provide funding but I may be able to point you in the right direction.
Anthony Savage
Posts: 8
16/07/2008 13:12:50
The business is a Yacht Charter/Cruise business. The business will cost me 170,000 but th valuation of the yacht (in an independant survey) is valued at £220,000.

Thanks for your reply

Tony
Jamie Goldsmith
Posts: 136
17/07/2008 08:25:42
Hello Anthony, thanks for the info, one last question where is the business and where do you reside. I only need the countries.
Anthony Savage
Posts: 8
18/07/2008 01:10:22
Sorry for the delay, I reside in the United Kingdom and the business is in the Caribbean.
Anthony Savage
Posts: 8
20/07/2008 14:13:01
Can anyone help me?
Jamie Goldsmith
Posts: 136
24/07/2008 08:18:25
Sorry but this is outside my area of experience. Try these people and let me know how you get on, http://www.yachtfinance.co.uk if needed you could try Barclays Marine Finance. We are doing a lot of business with Barclays at the moment.

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