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SBA Loans And Financing Articles About Business Purchase Financing
| Below are some articles on SBA loans and Commercial Financing for business purchase financing. These various articles address some of the more intricate issue of large SBA financing issues for purchases of "larger" small businesses! |
Most borrowers are surprised when they find out that we do loans (sometimes multi-million dollar loans) without little or no collateral to secure a loan. Of course other factors in the loan evaluation process should be involved for this to happen.
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Most buyers and sellers of businesses don't realize how important deal structure and loan presentation (deal package) is to financing. Components like down payment, small owner notes (sometimes), purchase price, and the way it is presented to a lender all makes the difference whether a loan is approved or not!
Getting SBA loan or other financing to buy a business, franchise, or professional practice can be one of the most important aspects in the process of buying. Most borrowers also don't realize that all lenders are different in their criteria for SBA loan requests, and that their criteria is always changing!
Our office does many SBA loans and commercial financings for business purchases every week and we see the same problems come up time and time again when borrowers don't utilize our specialized services. Borrowers trying to get financing direct from lenders for business purchases fail 70% of the time. Most borrowers select the wrong lenders for their type & size of deal, they don't understand and appreciate how important deal structure is, and they don't get the adequate support and direction during the loan process that is needed to be successful in obtaining this type of financing/loan.
Your down payment on a business purchase and for financing can come from many different places. A few examples include: Cash & Savings, Cash Gifts From Family Members, Home Equity Loans/Lines, Retirement Funds/Plans.
Owner/Sellers need to get their business pre-qualified from the sell side before they go to market for several reasons. Whenever we tell owner/sellers this, they look at us sideways wondering if we have lost our minds! They usually reply "that is the buyers responsibility to get pre-qualified and get financing for the purchase of my business!" Nothing could be further from the truth.
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