The BizBuySell Small Business Community

  • Get Expert Advice

  •  • Find Local Service Professionals

  •  • Share Your Experiences

Is it easier to get a Small Business Loan if your buying an exciting business or starting a new one?J.B.

No User Photo

Answer This Question

max 5000 characters

Web Reference (optional)

e.g., ""

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 (3)
No User Photo

We are financial consultants to a group of investors whom we have their consent to manage their funds which is in our custody for cooperation in joint venture business investments.

Our areas of interest include Property Development and real estate, Health Care, Education and training, Mining and exploration, Energy, oil and gas,Technology, Software development, Agriculture, Manufacturing, Finance Services and Leisure.However, all viable proposals within reason will be considered.

Funds shall be made available to you as a direct investment loan at 3% interest rate per annual for a period of 2 or 30 years depending on what you prefer. You may contact us if you have interesting investment proposal for possible business collaboration for our study.

We look forward to your reply to enable us provide you with details or you may visit our website.

Kindly acknowledge receipt of email.

Thank you.

Yours Sincerely
Jesse Peterson
phone: (980) 239-7539

Jun 6, 2017
No User Photo
Monmouth County, NJ

Jeffrey: I am assuming you mean "existing" vs "exciting.

Just my two cents. From what I have come across, getting a small business loan via a bank for either can be quite a challenge in this continually tight credit market. Start up bank loans are very difficult if not almost impossible to come by. Even finding bank financing on an existing business purchase is a challenge in and of itself. Most banks require a MINIMUM of your owning a business for two years before they will consider lending you money or issuing a line of credit.

Just for an example. I own two small businesses, maintain all business and personal bank accounts at the same bank and have a credit score in the low 800's. Both of my current businesses were startups and I utilized my own personal capital to do so. I was looking into "buying" an existing business to increase my ownership to 3 businesses and was outright told by the bank "no" to financing for the third business due to their two year requirement.

If you are buying a business with something that can be collateralized ( i.e. real estate, etc ) you may have a better chance of finding financing.

Jun 17, 2010
No User Photo

It is generally easier to get a loan for an existing business that to start a new one since an existing business will have some stability as far as sales and income are concerned. Either way, you will have to have your own money to put into the deal. How much do you have to put towards your business?

Jun 17, 2010

Start a Discussion