In an ideal world the £3million would be reduced by negotiation; would attract grants and donations from businesses; donations from fans – (I’ll personally scrape a grand together and will miss out on a planned holiday.)
To get the lowest % on a bank loan – guarantors become vital. If we can find, say, 6 people prepared to underwrite £250,000 to £350 thousand each on the actual loan we might just get something at under 6%.
Monthly, that should be extremely manageable.
