This business financing guide shows the items that you’ll need to prepare if you’re planning to get loan from financial organisation when you buy.. Getting financing can be easier with knowledge about the financing and with complete preparation of documents and statements in process of buying.
Step 1. Find a Business purchasable at BusiMarket.com site for businesses purchasable and commercial property purchasable on the market. As soon as a property is found, make any necessary contacts to sellers.
Step 2. Get Purchase and Sale AgreementGet the sale agreement from Brokers, attorneys, or Escrow companies.
Step 3. Find a LenderFind a Loan Officer that will attend of your financing needs.
Step 4. Prepare Required Documents – Purchase and Sale Agreement for the Business or Commercial Property,
- Personal statement provided by the lender,
- Tax return from both buyer and seller from the last three years
- an up-to-date earnings report,
- Resume from the buyer,
- Lease Agreement(if applies),
- Assignment for Lease (if applies),
Step 5. Finally, wait for the loan approval (usually takes 2-4 weeks)
Since the financing process can be different on type of business, location, and buyer’s situation. The information above is for information only and BusiMarket.com doesn’t guarantee accuracy of information.
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Tags: Business Financing, buy a business, buying a business, financial organisation, sell a business, small business for sale