How Do You Finance Buying an Existing Business?

Most buyers don't pay cash. The usual structure is an SBA 7(a) loan for the bulk of the price, your own equity for part of it, and often a seller note, where the current owner finances a slice and gets paid over time. Lenders like seller notes because an owner who keeps money in the deal believes it will keep making money.

The lender underwrites the business, not just you. They want to see that its historical cash flow comfortably covers the new loan payment, and that you have relevant experience running something like it.

Before you apply, gather the business's last three years of tax returns, a current P&L and balance sheet, the purchase agreement, your personal financial statement, and a short plan for your first year as owner.

SixtyFour West places your deal with lenders whose rules it fits.

Apply with SixtyFour West