Can I get a shop loan to open a new shop?
Actually, I work in the canteen shop of someone. But I want to open own shop. Therefore Can I get shop loan to open a new shop?
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So if you go to ask the bank for a loan to buy a shop, you should have a business plan. You can even get a loan if you just say that your business plan is to let the property. If you have good margin money and the estimate of the return from rent is realistic you may get a loan. Remember this loan will be treated as a business loan and not a housing loan. This will attract a higher rate of interest and a lower tenure for repayment.