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Guide on financing a business

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  • Guide on financing a business

    This business financing guide shows the items that you will need to prepare if you are planning to get loan from financial institution when you buy <a href="http://www.busimarket.com">business for sale</a>. Getting financing can be easier with knowledge about the financing and with complete preparation of documents and statements in process of buying <a href="http://www.busimarket.com">business for sale</a>.

    Step 1. Find a Business for sale at BusiMarket.com site for businesses for sale and commercial property for sale 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 take care of your financing needs.

    Step 4. Prepare Required Documents - Purchase and Sale Agreement for the Business or Commercial Property,
    - Personal Financial Statement provided by the lender,
    - Income tax returns from both buyer and seller from the last three years
    - an up-to-date income statement,
    - 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)

  • #2
    Well, Finding financing in any economic climate can be challenging, whether you're looking for start-up funds, capital to expand or money to hold on through the tough times. But given our current state of affairs, securing funds is as tough as ever. Great guide!