Danny Cox, of investment specialist Hargreaves Lansdown, says: Your bank would normally be your first port of call since it will be more familiar with your business, the person running it and your current cash flow position.
To extend lending or overdrafts they may decide to use the house in Italy as security, although using an overseas property is unlikely. An alternative would be to take a mortgage on the Italy property.
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Another would be to consider peer to peer lenders such as Funding Circle, where a collective number of private investors might lend the money they need.
A business plan setting out how much money is required, what it will be used for and the anticipated repayment timescale will help with any loan application.
This doesn’t have to be pages and pages, but should be clearly thought out and articulated
Michael Horseman, of financial consultants Cockburn Lucas, adds:
If you are looking for finance, a couple of starters might be:
1. Outside investors (friends and family as loans or equity)2. Investor with specific knowledge for equity return3. Bank or other lending institution4. Venture capital, enterprise scheme or Seed Enterprise Investment Scheme.
You need a business plan and clear idea what you want to do with the money, as well as an idea of investor returns and exit opportunities, for example three or five years, plus what they get in return.
This could be the percentage of profits or percentage interest on a loan over a time period.