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How a young man with nothing to his name can get a small business loan

Asking price for business: $1,000,000
Total value for inventory: $650,000

Assets: $70,000

Open credit accounts: 100+

Past 30 days due: 4

Past 60 days due: 1

Current credit out: $12,000

Steady profit margin (past 8 years) of $120,000 to $150,000 after taxes, plus TONS of other ways to make profit and increase sales

Established 18 years ago

Land: $250,000, VERY GOOD VIEW - Ocean front, tourist by the thousands

3 bedroom, 2 bathroom house: $150,000

Seems like an amazing deal, but I've really got NOTHING to my name except a meh credit score of 690. What can I do to possibly even slightly have an opportunity at owning this business? I know the owner will possibly help, but not sure how willing exactly he'd be to go. I've also worked at and managed the business now for 3 years, I know it all inside out.

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