I'm thinking of buying a new property

[JanB]

Financing a commercial venture is difficult to predict as it depends on so many factors.

You would need to produce some kind of figures to back up your projected turnover. This type of borrowing is more costly to set up, plus you would usually pay a higher rate of interest. Higher risk to the lender, it carries a more cautious approach from banks, particularly following the crash.

The main difficulty you will encounter is the low occupancy predictions lenders use; these can be as low as 15 weeks per year, even though you will undoubtedly easily exceed that.

Worth searching around as there are more products available now, than was the case a year or two back. Perhaps worth approaching your current lender or bank and having a chat to find out about set up costs, restrictions and how they calculate the sum they will loan as well as equity investment you need to be putting in.

It is invaluable to have an informal chat with a lender first as you are often clearer in mind and thought processes. Having found a suitable property, time takes over to secure it and perhaps there isn't always the opportunity to get really strong in depth financial knowledge and advice!

Keep us posted on how it progresses - setting up a new business is wonderful.

[booboo]

As a dog owner and a person who is involved with animal rescue, I can say this is a great idea! I was looking into doing this here in Slovenia but could not find the right place. Still haven't given up on the idea.
Check out the FB page, you can always ask the question there and get a lot of feed back.