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Where are the quickest answers on how to get funding to buy an exisiting business?

Posted by TVCHelpdesk on May 17, 2010
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Reviewed by Ragnar47 on March 30, 2011.

Have you found your funding if so how did it work our for you?
Akili King
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Reviewed by James.Mingey on May 17, 2010.

No quick answers here. I'd start with my own bank, and ask if they do SBA loans, if your not strong enough for them as a conventional loan. SBA guarantees go to $2m with a minimum of 10% required but the banks usually ask for 20-25%. US Bank is a player for SBA. If that doesn't fly, and you're a jobs creator, you might try partnering with a community group or Native American Corp and go after a grant funds for them that they lend to you in a JV arrangement that also trains workers in your industry or for new green jobs.

Good Luck

Jim Mingey