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cleverashna

How do I get a business loan in Mauritius in real estate?

Hi everyone.
I just completed my University courses.
I am currently unemployed.
Is it possible to get a bank loan to purchase a plot of land to build an apartment? My strategy is to repay the loan with the rent received.
I shall be glad if someone can help me.

cleverashna  (Level 1)
21 Apr 2017 23:29, updated
14 Mar 2017, published
Answers (1)
gices
gices  (Level 5)
17 Mar 2017 18:36
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Without proof of income, you won't be able to get a loan. So if you're unemployed, that will be a big NO.

The only exception to the rule would be if you apply for a business loan but for this, you will need to have a business plan in place with projections of how much money you expect to make yearly/monthly. Your purpose for the loan does not fall under this I think unless you run a restaurant/bar along. You can always try speak to a bank's manager to understand exactly the requirements for a business loan.

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