Thanks for the response. What I have in mind is consolidating all my debt and opening up an already established cafe, in Vancouver, BC. Do you know any lenders in Canada, or lenders in the US willing to write a contract with a Canadian? I'm not sure if there are any legal things I should know about. I've never done a loan before, so I don't really know how it works, but I'm willing to pay for any notary fees, and any fees for the paperwork. I think if just consolidating my debt, I'll need about $15,000CAD, and if consolidating the debt and opening up the business I'll be looking at something close to $75,000CAD maybe $100,000CAD. I don't have the best credit rating right now, because I lost my job at the travel agency I was working at. I was making loads of money, but I mis-managed it, and I've learned a lot about money managment in the meantime. I am going back to work for the travel agency and will be able to pay the $15,000CAD loan off in 12 to 36 months depending on what the lender wants, and I'm willing to do a percent interest or a lump sum interest, I'm very open to options. The cafe I'm looking at is already established and makes about $390K a year, and only costs about $45K to purchase. I would need extra money for a float and any expenses for the business, and any paper work or licensing fees, ect. I am willing to produce a business plan to any potential lender. But quite honestly, there is no bank that will help me because of my FICO rating, I think it's about 400 - 500, and banks only care about your credit report and not about your actual situation. If you can help me out I'd really appreciate it! Thanks again!
Check under lenders on this site for your state. <IMG SRC="images/forum/smilies/icon_wink.gif"> Attend your local REI club,you will meet many lenders there. <IMG SRC="images/forum/smilies/icon_smile.gif"> [ Edited by MichaelChandler on Date 01/22/2004 ]
Thanks Michael, but the site keeps asking me for my state and zip code, but I'm from Canada. So it won't let me see hardly anything on the site! Do you know how I can fix this?
I know of a group of investors who lend.
What did you have in mind?
Mike
Depending on what your trying to do, how much you need etc... There are plenty of private lenders who could help.
Mark
Thanks for the response. What I have in mind is consolidating all my debt and opening up an already established cafe, in Vancouver, BC. Do you know any lenders in Canada, or lenders in the US willing to write a contract with a Canadian? I'm not sure if there are any legal things I should know about. I've never done a loan before, so I don't really know how it works, but I'm willing to pay for any notary fees, and any fees for the paperwork. I think if just consolidating my debt, I'll need about $15,000CAD, and if consolidating the debt and opening up the business I'll be looking at something close to $75,000CAD maybe $100,000CAD. I don't have the best credit rating right now, because I lost my job at the travel agency I was working at. I was making loads of money, but I mis-managed it, and I've learned a lot about money managment in the meantime. I am going back to work for the travel agency and will be able to pay the $15,000CAD loan off in 12 to 36 months depending on what the lender wants, and I'm willing to do a percent interest or a lump sum interest, I'm very open to options. The cafe I'm looking at is already established and makes about $390K a year, and only costs about $45K to purchase. I would need extra money for a float and any expenses for the business, and any paper work or licensing fees, ect. I am willing to produce a business plan to any potential lender. But quite honestly, there is no bank that will help me because of my FICO rating, I think it's about 400 - 500, and banks only care about your credit report and not about your actual situation. If you can help me out I'd really appreciate it! Thanks again!
Check under lenders on this site for your state. <IMG SRC="images/forum/smilies/icon_wink.gif"> Attend your local REI club,you will meet many lenders there. <IMG SRC="images/forum/smilies/icon_smile.gif"> [ Edited by MichaelChandler on Date 01/22/2004 ]
Thanks Michael, but the site keeps asking me for my state and zip code, but I'm from Canada. So it won't let me see hardly anything on the site! Do you know how I can fix this?
[ Edited by MichaelChandler on Date 01/22/2004 ]