Question
small business loans?- repayment?
I'm looking at starting a small business....the problem is that I'm going to have to build a shop on my property because there is no where in the area that is available or could be easily transformed into a shop. If I get a small business loan.....is it possible to defer payments long enough to get the building up and the business established.....i'm looking in the 3 to 6 month range........
3 years ago - 1 answers
Best Answer
Chosen by Asker
3 to 6 months without making a payment on the loan may be difficult, but what you can work out with the bank is that you only pay the interest on the loan until you can start paying it off. You can also consider adding the building to your mortgage, have it attached to your home and say you are adding a room to your house then it will be considered an improvment that adds value and you can renew your mortgage to cover the building costs Talk to your bank loans manager and explain your situation they can help you
by SAWGIRL
3 years ago
Asker's Rating: 