this post was submitted on 16 Nov 2023
1 points (100.0% liked)

Entrepreneur

0 readers
1 users here now

Rules

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 10 months ago
MODERATORS
 

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?

top 8 comments
sorted by: hot top controversial new old
[–] monkey6@alien.top 1 points 10 months ago

Have you spoken with a bank?

[–] CodaDev@alien.top 1 points 10 months ago

Check with SCORE

[–] HeistPlays@alien.top 1 points 10 months ago

Are you or your business financing the acquisition? Do you have a down payment?

[–] HornyWeeeTurd@alien.top 1 points 10 months ago

Have you considered learning more about business before buying?

[–] tech_overloaded@alien.top 1 points 10 months ago

Do you have 5x collateral that you can pledge??

[–] Apprehensive_Tear888@alien.top 1 points 10 months ago

SBA - I would actually recommend going to the seller and speak to their loan provider. They have experience with the business and would probably work with you to keep your business at their bank.

All in all depends on what industry you’re in but you can always raise and ask for a seller note

[–] Sigma_Pants@alien.top 1 points 10 months ago

Is your house worth 6--7M?

[–] AskFelix@alien.top 1 points 10 months ago

There are plenty of private lenders but their fees are higher than banks but they have a higher appetite for risk.