I have two properties worth $700,000, excellent credit, but no cash to show a lender. How should I proceed from here?
I want to buy a gas station. The only problem is I don't have a lot of cash to show the lender.
If you take your business plan along with your personal balance sheet to the lender, then you'll be able to discuss options. Traditionally, the lender looks at your net worth (assets less liabilities) along with your credit score and business plan. There are usually a variety of ways to finance businesses and your lender should be able to discuss options as they relate to your specific situation.
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