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re: Advice on purchasing a business with a loan
Posted on 2/10/18 at 5:22 am to Rossberg02
Posted on 2/10/18 at 5:22 am to Rossberg02
You will be lucky to get a bank loan that is 60% of the value of the business. Get current owner to finance the rest if you have no capital.
The downside of owner financing is that he could take back the business if you miss a payment.
The downside of owner financing is that he could take back the business if you miss a payment.
This post was edited on 2/10/18 at 5:26 am
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