this post was submitted on 16 Nov 2023
1 points (100.0% liked)
Entrepreneur
0 readers
1 users here now
Rules
- No Personal Attacks - criticism of ideas is allowed, attacking people is not.
- Self Posts Only - links can only provide supplementary material. Your post must contain enough content to have a discussion.
- No “How To Get Rich Quick” posts - This community is not about making a quick buck. Posts asking the community how to make $X, without making specific reference to a reasonable idea, are not tolerated.
- Avoid unprofessional communication - Please treat fellow entrepreneurs like respected coworkers, label conversations if NSFW and avoid deliberate provocations.
Please feel free to provide evidence-based best practices, share a micro-victory, discuss strategy and concepts with a frame work, ask for feedback, and create professional conversation. Treat every post as if you're at work and representing the best version of yourself.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
How much liquid capital do you have? You will need a minimum of 10% down plus operating capital to purchase a business with an SBA loan, and more if you tried to get a traditional loan.
Do you have $1 million in liquid assets (not equity in your home)?
If not, sorry to say it probably isn't possible to finance a business that size, even with good credit.
This is good to know. I am hoping to somehow find $10M to build a strip mall/condo building and have $200k. I guess I need to start hustling.