How to finance a business acquisition is a critical factor business owners face when evaluating the merits of an acquisition. A loan from the Small Business Administration is an attractive option for established businesses in need of financing. Sometimes, however, it’s hard to get approved for an SBA loan. If you do not qualify for an SBA loan, there are plenty of other lenders who are willing to work with you on business purchase financing. Following are several types of non-SBA loans that you should consider when buying a business.
There are many valid reasons why it makes sense for business owners to take on partners. Sometimes you need an inflow of cash; sometimes you want to expand your product line or extend your market reach. Potential partners fall into two primary categories: strategic and financial. Knowing the difference between the two is critical to clarifying your business strategy and helping you understand the decision-making process and goals of potential partners.