Alternatives to banks to finance hunting/fishing outfit

[bard]

I am a Canadian interested in purchasing an outfit in Central America. Books are good. I have about 30-40% down. Local banks don’t want to touch it. Just wondering if anyone knows of alternative financing that deals with hunting or fishing outfits. Thanks

 

[UCFJed]

What is the reasoning for the banks not wanting to move forward?

 

[Wvroach]

Maybe look for a partner with the other 60% or save up the rest yourself in cash prior. I can't see going into debt to start a business personally. I know way to many people that have and have entirely to much month left at the end of their check. Your money your choice though.

 

[Jbehredt]

Maybe a wealthy client will carry it?

 

[roadrunner]

I am a Canadian interested in purchasing an outfit in Central America. Books are good. I have about 30-40% down. Local banks don’t want to touch it. Just wondering if anyone knows of alternative financing that deals with hunting or fishing outfits. Thanks

Business grant money, it might qualify under a tourism or entertainment line.

 

[BullsDeep]

Have you seen this shit show lately? I'd stay north.

 

[Hooknbullet2]

I’d be interested in learning more about the opportunity. I‘ve started and invested in several small to medium size businesses.

That being said, I was in Costa Rica last month and the tourist areas have been drastically changed by the Covid shut downs. I’m headed back down there next week and going to check a few more areas to see if its the same.

 

[bard]

What is the reasoning for the banks not wanting to move forward?

Two other foreign buyers in similar situations were turned down. I am still going to approach the bank but am trying to prepare to need alternative avenues.

 

[MattB]

Seller financing?

 

[svivian]

Take a Home equity line of credit out agains your primary residence if you are serious about it. Then you can approach the seller as a cash offer since the loan isn’t being used against the business for the purchase of the business.

 

[deerhunt1988]

At first I thought you were planning on buying your first Sitka gear. Then it hit me: "OHHHHHH, that type of outfit!"

 

[bard]

At first I thought you were planning on buying your first Sitka gear. Then it hit me: "OHHHHHH, that type of outfit!"

Lol. I am always wanting to buy more of that but try to not to use a high interest loan

 

[bozeman]

if its your dream....don't let it stand in your way. what options do you have? how much $$ do you need to complete the purchase? Have property? sell it. have extra vehicle? sell it. As mentioned, take the equity out of your house/property to finance it. if its TRULY your dream.....go for it. Don't let a small obstacle stop you. Best of luck!

 

[Doc Holliday]

See if the seller will let you finance it. Let some lawyers draw it up

 

[bard]

See if the seller will let you finance it. Let some lawyers draw it up

He has offered to finance 200k of about 1.5M if we can come up with the rest.

 

[DenverCountryBoy]

I’d be interested in learning more about the opportunity. I‘ve started and invested in several small to medium size businesses.

That being said, I was in Costa Rica last month and the tourist areas have been drastically changed by the Covid shut downs. I’m headed back down there next week and going to check a few more areas to see if its the same.

We were planning a trip to Costa Rica this summer. Changed destinations when we found out Costa Rica required the health pass QR code for everyone.

 

[Hooknbullet2]

We were planning a trip to Costa Rica this summer. Changed destinations when we found out Costa Rica required the health pass QR code for everyone.

The health pass is super simple. You only need it to get through immigration. Never need it again after that. Heck of a lot easier than traveling back to the USA where you have to get Covid tested within 24 hours of flight departure.

 

[gbflyer]

If you are tied to a big payment, there’s a good chance it ain’t gonna work. That’s probably why the local bank won’t touch it and the owner doesn’t want to carry much. Tourist businesses are notoriously good at cooking books. I’ve been on the receiving end. Make sure someone who is an independent 3rd party does a thorough and professional review.

 

[DenverCountryBoy]

The health pass is super simple. You only need it to get through immigration. Never need it again after that. Heck of a lot easier than traveling back to the USA where you have to get Covid tested within 24 hours of flight departure.

The level of difficulty wasn't the issue. I refuse to voluntarily take a step towards totalitarianism. Health passes are one step away from implementing social credit scores.