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re: Advice on purchasing a business with a loan

Posted on 2/10/18 at 5:22 am to
Posted by MadDoggyStyle
Member since Feb 2012
3857 posts
Posted on 2/10/18 at 5:22 am to
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.
This post was edited on 2/10/18 at 5:26 am
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