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| Home > Our Products > Business Acquisition Financing |
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- 100% financing available for partnership buy-out
- 90% financing available for new buyers (10% seller note on standby)
- 90% financing available when done in conjunction with a seller note (10% injection required from borrower)
- Equity injection can come from Home Equity Line of Credit if covered by cash flow
- 10 year term, more if Real Estate is part of the financing
- Up to $2M loan – 100% Goodwill
- Can include working capital
- Can include new equipment
- New buyer should have direct or related experience
- No bankruptcies in the past 7 years and no judgments in the past 2 years
- 1.2X historic debt service
- Positive trends, no significant concentrations
From the borrower
- Completed loan application
- Personal tax returns for the last 3 years
- Business tax returns and financial statements, if the borrower owns other businesses
- Detailed resume showing direct or related experience
From the seller or broker
- Seller’s tax returns for 3 years and interim financials (profit and loss statement and balance sheet) to the last quarter
- Description of business
- Copy of the purchase agreement with an allocation of the purchase price
- Copies of accounts receivables and accounts payables
- Equipment list
- Copy of existing lease agreements
- Detailed evidence of all exceptional add backs
- Legal description of real estate, if real estate is part of loan
Loan application
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