Entrepreneur

You're going to need some significant skin in that game. What $ amount can you personally put up? In addition to your $, do you have any collateral? What experience do you have in running that type business? What general management and financial background do you have?

As for the business, what is the valuation based on? Does it have a 3-5 year track record of profit that supports that valuation? Any assets that can be collateralized?

And BTW, there are numerous "Bay Areas". You'll want to specify which bay you're near.

If you don't have money to buy that kind of business - then you don't need it IMO

Read: "Buy Then Build" - Walker Deibel

Tons of tactical info on buying your first business, including all the different financing avenues.

A bank. Walk inside and ask to speak with a lender.

That's the kind of money that if you don't know, you won't get it.

Friends and family

Google and talk to Codie Sanchez, ni am told they do amazinv things for entrepreneurs.

Shaan Puri’s My First Million podcast on the Egg Carton Business just might give you a few ideas on how to get creative on how to finance it. Good luck on it

Do you have a business plan for that business yet?

Business broker here.

A $6-$7M business can be purchased using a maximum of $5M from an SBA loan and then either seller financing or a conventional bank loan.

Plan on bringing around $1M to the table of your own money or from private investors. You may be asked to put down 10% of the purchase or supply your own working capital once you take over.

Your story matters. The bank and the seller need to feel confident your team has the experience to run a business of this size and industry.

Do you have any money or experience?

Bay area... shit sidewalk

Others are quick to judge here so Ill refrain since I dont know anything about you. Another broker has covered the SBA part. Traditional financing is another although it will be hard to find a bank willing to do any commercial lending like this without going SBA route. An alternate method is finding a private or group of private investors. Surprisingly there are actually a lot of investors on Twitter actively looking for deals. They have formed their own little community and I know people who were successful securing funding this route. Look for tweets talking about ReTwit, LP, GP and you will find the community of people. Maybe you can find money there....its unconventional, but we live in an unconventional world, and buying a business really has no rules so anything goes.

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.

Cash flows without these huge interest payments. Cash flows with them?

Go visit tech credit union. They are a pretty great to work with even though the other website is a piece of crap and do a ton of SBA loans. You’ll only be able to get 5 million max so you’ll have to come up with the rest somewhere else. Is the seller willing to carry a note?

If you don't know where to get that kind of money, you won't qualify for it either. Full stop.

Are you looking to secure a loan to buy Anchor Steam OP?

Family office. Buy them out after a set period of time.

If you have to ask, you can’t afford it

I'll cover half of the non-SBA if you match with "first out" assets for me

What’s to guarantee you’ll be successful ?

The founder left, can you do it?

Talk to a local community bank

first make sure its really worth 6 - 7M if that value is coming from "assets" then make sure that the inventory has salable value ...if the SBA will only lend 5m then offer 4.5M ...hey just because the seller says 6 does not mean they won't take 5M

Depending on the business, I know some lenders who might be interested.

You will need 25% down to do it...

Go to dating app and find the oldest person on there. Marry them. Wait for their expiration. Come into some assets and change your life!

Search fund investors for the equity, debt should be easyish

Not Reddit

Just saw a comment that mentioned this was real estate, similar to a waterfront hotel.

An operating water front hotel in San Francisco probably trades at a 4% cap rate. SBA rates right now are at like 11%. Commercial real estate loans are probably like 8%. I find it very unlikely the numbers would pencil.