ATM I'm currently wanting a business loan to buy this website. It's currently up for bid and it'll be a major investment. I just need the capital to start which would probably be around $10,000-$15,000. I'm 22 and i lost my job around 6months ago so i don't have money to invest, but this is such a great opportunity to take on and is something that'll enjoy doing.
Now the website is a pretty solid business for what it is. It's a local Highschool sports website with a bunch of content. With Google-Adsense and with advertizing it averages around $2-6K a month. And i believe it'll stay steady this way for many years. I'll most likely be co-owning the site since my other partner will also be investing.
Things to add
- Ive never have owned a Business or Website
- No money to invest atm
- I've ever gotten a loan before
- Not really sure what the sellers reserve price is for the site, but I'm thinking pretty low since its local. (bid is really low at the moment)
- During the High School Football months it generates a ton of traffic. If i buy it now i could probably break even after the football season is over.
- Not really hard to run the website
If i can persuade the bank that i could generate the money coming in every month, would it convince them to lend out that loan? Furthermore i feel as if this is a low risk for the Bank..
I'm obviously a newbie to all this, so I'm looking for different opinions. Thank you