Lending / loaning against a Business Valuation

Hi,

I would like to get a low interest loan which is secured against my Businesses valuation.

Does anyone know if there are any companies or institutions that might cater for this?

Thanks

 

It will be very difficult.

What do you mean by 'business'? If you have tangible assets such as equipment then possibly you could get a loan. Rates would be high.

If you have intangible assets such as good will then this could not be used as security.

 

Thanks for the comments.

Terryw - It's mainly "intangible." But I find the whole tangible or intangible aspect the banks take very archaic.
If something has a value, then it can be sold if a loan is defaulted. Who cares if its tangible or not.
If I default on my loan then I'm happy for the bank to sell my business (which has a value and can easily be sold).
That's all mainly directed at the banks not the person providing me helpful feedback.

Sim - I'm only looking to borrow about $20,000. It's all annoying as I see my business as an asset.

Either way it looks like I'm fighting a losing battle!

 

iavatar, but if the business fails the bank would have nothing to take...

For $20k your best bet would be to use a credit card. It would be the easiest way. Few months down the track you may be able to switch the balance to a low rate too.

 

Thanks TerryW, I'll look into it.

(I think there's more chance of my property assets failing than my business, but again, its the banks opinion that matters).

 

Thanks Sim. I do actually remember that credit offer.