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There can be many obstacles and difficulties when starting your own business. The main difficulty if you are looking to start your own business can be financial. There are various reasons for needing capital when starting your own business, purchase of premises, equipment, cash flow, paying staff are some of the reasons that require financial assistance.
Think Commercial specialise in commercial property finance. It can be a challenge when starting your own business to purchase commercial property. It is difficult to raise money to purchase commercial or semi commercial property if you have no track record and no accounts and you are a new start up business. Your bank is unlikely to agree to lending you money if you are starting your own business as you will not be able to provide the information they require such as proof of income in the form of audited accounts, track record, business plans and more. It is a catch 22 situation, as you need to get started in your new business in order to reach a stage where you can provide accounts and have a track record.
We can provide advice and commercial funding and will consider your circumstances when starting your own business. We will not ask you to provide accounts that you do not have, nor will you be required to have any previous experience or an elaborate business plan. We understand that the chances are you will not have any of these items that will be required by other commercial lenders. We can provide specialised schemes for purchase of mainly freehold and in some cases leasehold commercial property. You may be looking to start your own business and need premises; this could be a shop or an industrial unit. You may be looking to purchase a shop with accommodation above, which is semi commercial property. These types of property and many more can be purchased with no evidence of income, you will decide that it is affordable and will provide a self-declaration of income.
When starting your own business do not be deterred if the bank has turned you down contact Think Commercial and we can help you start your new business. |
