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I am looking to purchase an existing day spa.

I am looking to purchase an existing day spa and need SBA financing. Are there any banks left that are still willing to lend for existing businesses with an SBA guaranteed? This might be the best option for me since I can probably only 10% down payment. Also can I increase the loan a little over the purchase price so i can provide myself with some working capital?

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Answers (3)
Michelle Orr
Wells Fargo SBA Lending
Business Development Officer
Fairfield County, CT

I am with Wells Fargo SBA Lending and we offer up to 85% financing for business purchases with and without real estate. It wil depend on the historical cash flow of the spa, your experience and your personal credit history, as to if we can offer financing and the amount available.
Where is the spa located?

Aug 14, 2009
Satish Patel
Sunbelt Business Advisors
Middlesex County, MA
Premium Broker

Michelle, there are plenty of lenders willing to lend on salons if you and the business qualify. The first step is to target the business, have your offer accepted then apply for the loan. Almost all will require some working capital to insure your success and provide the additional capital required for inventory, payroll, and any new advertising campaigns you will be launching as part of your new business launch. I work with several lenders who are salon friendly and really like local service businesses. Please give me a call at 617-945-5338 or send me an email at for additional information or to set up a confidential buyer consultation.

M Mariola Andoni, CBI
Sunbelt Business Sales & Acquisitions

Aug 5, 2009
Douglas Batts
Murphy Business & Financial Corporation
Collin County, TX
Premium Broker

Michelle, your ability to get financing will depend on a number of items including the strength of the financials of your proposed business and your experience running such a business. It is generally tough to get 90% SBA financing for day spas with no real estate. Most SBA lenders will permit working capital financing, provided the business financials warrant it.

Jul 24, 2009

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