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Where can I go to find financing to buy a 6-7M business? Located in Bay Area (alien.top)

submitted 11 months ago by theMEtheWORLDcantSEE@alien.top to c/entrepreneur@indiehackers.space

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I would like to buy a large business that cash flows but I need a lot of money to buy it, where do I start? I could leverage my house?

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[–] beley@alien.top 1 points 11 months ago (1 children)

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.

[–] zeeblefritz@alien.top 1 points 11 months ago

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.