The Top Two Ways to Purchase a Business without Collateral

Banks love collateral and for a very simple reason. If you have collateral, then the bank has something it can take if you fail to repay your loan. At its heart, collateral is a remarkably simple concept. However, unfortunately, many people who want to start a business lack it. All of this leads us to the simple question, “Can I start a business without a collateral. 1. Try the SBA There are ways that you can start a business without collateral, but you will need some amount of money. The larger the business, obviously the more money you'll need. Those interested in the zero collateral route will want to take a look at the SBA's 7 (a) program. This program incentivizes banks to make loans to prospective buyers. Through this program, the SBA guarantees an impressive 75% of the loan amount. Of course, the buyer still has to put up 25% of the money in order to buy the business, but for those looking to own a business without having to put up collateral, the SBA's 7 (a) program is … [Read more...]

Why Sell Your Company?

Selling a business can be a horrendous and enthusiastic occasion. Truth be told, "Seller's regret" is one of the real reasons that deals don't close. The business may have been in the family for ages. The proprietor may have constructed it from scratch or got it and made it extremely fruitful. Be that as it may, there are times when selling a business with a professional business broker is the best course to take. Here are a couple of them. Burnout – This is a noteworthy reason, as indicated by industry specialists, why proprietors think about offering their business. The extend periods of time and 7-day work filled weeks can incur significant injury. In different cases, the business may simply end up exhausting – the test gone. Losing enthusiasm for one's business for the most part shows that the time has come to sell the business by you or with a professional business broker. Nobody to assume control – Sons and daughters can be upset with the privately-run company when it's … [Read more...]