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Updated almost 7 years ago,
New business startup
I am looking to start either a new business or purchase an existing business. One will be either storage and the other would be campground. Both will need startup of $5m. I have a lender who is willing to lend the money at 15% for 60 months. From what I have read and watched videos on you have to pay this person back monthly which that will be close to $80k a month. When asking realtor to locate a property that will help me make payments that big it was like a slap in the face. How am I supposed to pay them back?
Then from a previous post I read that you cannot use that money for personal use?
How does that much funds arrive in your possession and how can I pay myself out of that money to pay off personal credit to get approved for refinancing?
Please helpo