The Lubricant For Every Deal Is The Availability Of Business Financing.
Without business financing available to buyers, very few sales of businesses would close. To close the sale of your business, you may need to be creative. Prospective buyers may not all have all the cash they need. They may need to get some assistance. They may not know the various options. By being able to offer them guidance in sourcing capital, you will be doing them a favor, while helping yourself.
An obvious source of capital for a buyer, is some type of debt. Some prospective buyers may not have very strong credit ratings. Or they may not know how to arrange a loan. You can help them. Either way you can help by having the strength of the business as the major qualification for accessing capital. One way of doing this involves qualifying the business for
. This can be done while you prepare your business for sale. That way you will provide prospective buyers with a much more comprehensive package, and reduce the amount of work they have to do.
However, there is something that you should know about getting an SBA guaranteed loan. Not all lenders are created equal. They don't all offer you this option. And they don't all know how to help you even if they want to. To learn more about this, and how to put yourself and your business on the fast track, review
SBA Loan Sources
before attempting to explore this option.
Another source of debt is a loan from the bank your business deals with. Their intimate knowledge of your business may make them more likely sources of business financing than most other institutions. A loan from any other source will require the prospective lender to become comfortable with the debt servicing capacity of your business, as well as that of the borrower. Learn more by going to
An alternative that is used to close many business sales is some type of seller financing. Some sellers find it an appealing prospect. Particularly if the interest rate is high enough. Seller financing in the form of a note can be held to maturity, or sellers can choose to sell notes. This is all discussed in greater detail under
If circumstances demand greater creativity, you will need to consider other business financing options. These would not necessarily be your preferred solutions. Consider selling a minority interest initially, and combine it with a management agreement and some form of scheduled purchase of the remainder. Learn how this type of
sale can be of great assistance in making a sale that would otherwise be extremely difficult.
Where the climate for other sources of capital is extremely difficult you will again need a creative alternative. To consider a
arrangement, you will also want to relieve yourself of ongoing management/operating responsibilities for your business.
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