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I am looking to borrow 150K for an existing 1 yr old profitable business for sale in GA. Any suggestions?

This business is doing very well, the current owner is buying another business out of state. Since the business has only been around for a year, banks will not consider a loan. I could start paying the loan back starting month 1 over a 5 yr period I just do not know if there are other options besides banks. Any suggestions or help appreciated.

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Answers (4)
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Biz2Credit LLC
New York County, NY

Den,

You can try micro lenders as well as banks can fund you under SBA program where based on one yr. financial and financial projections you can get a loan.

A lot of factors go into qualifying a for a business loan. Lending institutions scrutinize a business owner's personal credit, business credit, location, industry, years in operation, assets and cash flow differently. The best way to search for financing is to enter you information on www.biz2credit.com. If you meet the general criteria of a lender or a bank on the system, you'll be matched with them. If you don't meet any of the lender criteria, the system will educate you as to why you didn't fit the criteria and what you can do to qualify in the future. It's a great system and it's free. Good luck.

Apr 8, 2010
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Business Capital Corp
President

I am in Asset Based Lending. E-mail me @ tomboutwell@bellsouth.net with your contact info. After
getting some info on the business and their Balance Sheet, I can tell you within 24 hours if I can help
you.

Apr 8, 2010
Robert Cutler
Attorney
New York County, NY

Your best bet probably would be a private equity or venture capital fund, although they typically charge higher interest rates than a bank and sometimes require a controlling interest in the business.

Apr 5, 2010
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I am a loan originator representing private equity funds. Send me your info as well as pro forma for the business. I can help you. ep@pfmin.com

Apr 3, 2010

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