5 Ways to Finance Buying a Small Business
Do you need money to buy the American Dream? The fastest way to become a business owner is to buy an existing small business. Buying a business – whether its a franchise, online business, a service, or storefront – means you are acquiring everything about the business, the good and the bad. Often, its easier to get financing to buy an existing business than to start a new, unproven business.
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SBA Loans: Borrowers looking for the long repayment terms and low interest rates.
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Rollover for Business Startups (ROBS): Funding a business purchase or loan down payment from your for borrowers with $50K+ in retirement funds.
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Seller Financing: Requesting the owner of the business to loan you some of the money to buy the business, in addition to upfront money from the buyer.
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Home Equity Line of Credit: HELOC & HEL: Borrowers who have +20% equity in their homes and a good credit score of +620 can usually qualify for a home equity loan to finance buying a business.
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Loans from Family & Friends: Buyers who have friends or family who believe in them and will loan them money to help them buy a business.
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