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#1
08-06-2007, 05:33 PM
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Buying an existing small business
To buy an existing small business for ~800k, what level of financing could you reasonably expect to get from a bank? >=70%??
This would be an existing small business with accurate records showing cash flow. 
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#2
08-06-2007, 06:46 PM
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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.
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