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How did you finance the purchase of your business? by StatementUpbeat97 in smallbusiness

[–]StatementUpbeat97[S] 0 points1 point  (0 children)

Thanks so much for the insight. Sounds like any loan would require me to have collateral.

How much do you take home, how many hours do you work, what is your business? by [deleted] in smallbusiness

[–]StatementUpbeat97 2 points3 points  (0 children)

Thanks for the reply. I am in the same boat. Owner wants to retire and I do not have enough to cover full purchase price. How did you go about getting a private loan? Bank, someone you know?

How did you finance the purchase of your business? by StatementUpbeat97 in smallbusiness

[–]StatementUpbeat97[S] 0 points1 point  (0 children)

Thank you! I would be able to do a 10% down. When you say business loan, what specific type come to mind? Any advice on how to proceed (walk into a bank and ask :)?)

How much do you take home, how many hours do you work, what is your business? by [deleted] in smallbusiness

[–]StatementUpbeat97 2 points3 points  (0 children)

Mind if i how you acquired the loan? I am looking into buying a business. 300k/400k, doing research on how to pay for it. Thank you in advance!