Borrowing Money to Purchase a Business
Small business loans can be used for any variety of business related needs, including purchasing a new business. Your loan will be handled by loan officers and committees, regardless of how small the loan is, so be prepared to have all your ducks in line before starting the application process.
The lender will expect the following:
1. A comprehensive business plan.
2. Income projections.
3. Current assets and liabilities.
4. Personal information, including social security number, tax history, etc.
5. Certificate of incorporation, DBA or other legal business registration.
6. List of bank accounts, credit history and references, both personal and business.
This Buying A Business website and its contents are for only for intended for informational purposes and should not be used instead of a professionals advise. Always consult a trusted expert with your questions and concerns.
Choosing Your New Business