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Financing The Deal In Florida – Business Brokers

October 1, 2013

If you’re thinking about buying a Florida business, you’ll be pleased to learn that financing the purchase is generally quite easy. In fact, it’s far simpler to get the money you need to buy an existing business than it is for a start up. Most people simply don’t realize how to do it. Don’t get the wrong idea: you’re not going to buy a business, at least a good one, with no money down; that only happens in the infomercials.

Many prospective business buyers mistakenly believe that traditional lenders will welcome them with open arms when they present them with a business they’re looking to acquire. Unfortunately, nothing can be farther from the truth. It still amazes mus how the banks have got most people fooled. They run these great ad campaigns promoting themselves as “business/client friendly” but try to get them to lend you money to buy a business. It won’t happen.

It doesn’t matter how experienced you are, or what your relationship is with them or your credit. Unless you’re prepared to collateralize the loan 100% with non-business and personal liquid assets, they aren’t going to give you a penny.

90% of all transactions involve some financing. Only 10% are all cash deals. Even if you’re inclined to pay all cash, my advice is not to do so, unless you get a very hefty price reduction: at least 12%.

Remember, there is Seller Financing, SBA Financing and sometimes Relative Financing (usually not recommended, you may lose your family over this method). View 100’s of listings that include financing: www.FLORIDABusinessOpportunities.com

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