Is it wise for a first time business buyer to ask for loan for over million dollars.

I want to get an up and running gas station/ c store, but a profitable busines cost over million dollars. Will it do me any good to ask bank to get a loan for over million dollars.
In Buying Property - Asked by Nirav P. - Jul 7, 2011
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Answer(s)

Adebo F.
Owner/Investor
New Castle, PA

As long as the business plan and the loan use is sound and justifiable, and all the business goals and executive summary makes sense to the loan provider, it doesnt matter what amount is requested.

Jul 9, 2011
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Nancy G.
Broker/Agent
Sandy Springs, GA

Come to GA and you can find a fas station for cheaper in a high traffic area.
Have you looked into a SBA loan.
Taking out loans of such size depends on your propensity for risk, the cash flow of your project etc.

Jul 13, 2011
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