Re: Buying an existing small business
It will depend on the business. If it has hard assets or equipment that can be used for collateral, that will be easier to finance than a business that does not. Businesses with higher cash flow can obtain more financing than businesses with lower cash flow. You can also borrow against the accounts receivable.
Your personal credit will likely be a large factor. Even if it is a corporation, you may have to personally guarantee the debt.
|