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Buying an existing business

by loanhelp, Window Shopper

  • Created: December 13, 2012, 8:44 pm
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2 comments
I am buying an existing business and need a loan under $65,000. I do not want to use my home as collateral. Where do I look for financing?
Tags: Discuss Popular Topics, Loans & Grants
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BizResearcher | Window Shopper | 12/18/2012 - 2:50 pm

Have to asked the current owner if they would carry the note? Doing so
provides a steady stream of income for them over time and you may be able to
make payments out of the business profit without having to secure a separate
loan.

JGabriel | Community Moderator | 12/14/2012 - 8:37 am

SBA doesn't loan money directly to small business owners; instead, SBA can help facilitate a loan for you with a third party lender, guarantee a bond, or help you find venture capital. Here's what you need to know about SBA's role in the loan process. You may also want to check this information out to learn about what you need when considering applying for a loan, including details about credit factors that are taken into consideration.