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Business Purchase
Posted by NickR (more from NickR) on Sat, 21 Oct 2006 17:30:15
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I am looking at purchasing an existing business. My wife and I don't have kids and our net value right now (we just got married!) is only around $30 or $40k. My father could probably invest around $40 to $60k. The particular business I am looking at is selling for around $800k. Assuming I can get 25% seller financing, I need to come up with an additional $300k or so. I have no problem sharing equity with an investor proposition, but I was wondering if anyone has been in this situation, how to deal with it, etc. I would try SBA, but htye typically need collateral which me (living in an apartment) do not have.
posted by 72.192.27...
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