When buying a business you want to make sure the business is cash flowing (after all the write offs), that the last 3 years of tax returns shows gross sales have either stayed the same or gone up, and lastly the value of the business is what the seller thinks it is worth. Many sellers over value their business. If the buyer is not going to get a SBA loan, than I recommend before buying a business to get a business valuation done. If their is real estate involved also get a commercial appraisal done. Have an attorney that represents your best interest not the sellers best interest. Never take anyones word the value of a business. I can not tell you how many stories I have heard where the buyer took the sellers word for the value of the business and found out after the fact it was not true.
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Karen Schimpf
Commercial Capital, Ltd.
p: 512-650-8630
c: 512-354-5949
e: KarenSchimpf at gmail.com
www.linkedin.com/in/karenschimpf/
blog: http://bizloansconnections.com/
P.S. No Risk Solution. When the Bank Says No, Come to Me to Get Your Deal Closed. I specialize in Small Business Administration Loans (SBA) and Commercial Loans. I help entrepreneurs attain financing for their business or project. I BRING COMMERCIAL MONEY FROM AROUND THE COUNTRY TO LOCAL MARKETPLACES INSURING THE MOST LIKELIHOOD OF CLOSING. The key is placing the borrower with the lender that most suits that borrower's strengths. I do it better than anyone. Give me a call today at O:512-650-8630 to get your loan closed.
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