WHAT IS EQUITY FINANCING?
The EquiFund Program is a Federal Funding program. Equity capital is provided to buyers purchasing a business or commercial property. Equity from the seller's business or property is converted into cash funds as a non-repayable taxable grant deposited into the buyer's EquiFund bank account. The available amount of equity is the difference between the seller's final gross sales price and the buyer's purchase price at maximum appraised value as determined by a certified appraiser.
Buyers participating in the EquiFund Program will receive a 1099 at the end of the year and must record it as "miscellaneous income" on their tax records. It is recommended to consult with a tax advisor for details. The EquiFund Program is not a loan. There are no liens, seller seconds or promissory notes executed. The seller's property is encumbered for the amount needed for federal funding and paid off at time of closing. This is an innovative program designed to benefit buyers and sellers with a successful business transaction.
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