Need a loan to buy a business
by thefreshsolution, Window Shopper
- Created: August 10, 2012, 4:40 pm
- Updated: March 24, 2013, 5:37 pm
My Wife and I want to buy an existing business that does about $2 million a year in sales and provides about $250,000 a year in income. The purchase price is going to be around $800,000 and we basically have nothing, except our experience (30+ years) and our time to dedicate to this new venture. There is a huge opportunity to increase sales without increasing overhead (under utilized facility, eliminate 2-employees with ourselves, etc.). It will be a woman owned business (she is the creative mind of the pair) located in a HUB Zone. Where is the best place to find a loan to buy this business with little to no money down (the owner may carry 20%). Thank you!
‹ Poor Credit/Little Capital Is a small business still realistic? Can't even get a $11,000 dollar loan ›
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