The BizBuySell Small Business Community

  • Get Expert Advice

  •  • Find Local Service Professionals

  •  • Share Your Experiences

How to get a business loan with great credit ?

I'm 18 years old and I have a 780 credit score.
I want to buy a business but I have no money or a job.
I was wondering if I can do something with my credit like sellers financing.
Can someone explain what I can do. Thanks

No User Photo

Answer This Question

max 5000 characters

Web Reference (optional)

e.g., "www.mywebsite.com"

Review Community Guidelines

Help keep our Community clean and on topic. The BizBuySell Community is a place where you can discuss your questions, concerns and knowledge with others you can trust. It is not OK to use this forum to solicit others for personal or financial gain, or to rant about personal issues. It's all in the guidelines.

Submit Your Answer
Answers (1)
Robert Cutler
Attorney
New York County, NY

Joe, the truth of the matter is that unless you have assets, it is virtually impossible to buy a business. You're not going to be able to find a seller willing to extend 100% financing, so that is not a realistic approach. If you really want to acquire your own business, you should first devote a significant amount of time learning the business and then develop a business model that you can market to friends and family to finance the purchase.

Jan 21, 2010

Start a Discussion