The BizBuySell Small Business Community

  • Get Expert Advice

  •  • Find Local Service Professionals

  •  • Share Your Experiences

Need Advice!

I am a 21 year old entrepreneur from Tulsa, OK and I am wanting to purchase a business but I dont have the collateral to put down for a loan. Does anyone have any advice for me about what I can do to get started? I'm currently looking at purchasing a liquor store for 150k. Any advice will help!

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 (2)
No User Photo

What's the cost of the inventory? Maybe you could use that for a loan. Real estate is probably not included at the 150k asking price (and I assume the inventory isn't included also.) With no money down you would be hard pressed to get a loan.
Honestly, you should work and save up. Anybody who would offer you financing is either a scam or the terms would be so egregious that the deal wouldn't be worth taking.
The best way to get financed if you have no collateral is family and friends. If you don't have that you could try to find an investor but seriously why would a total stranger finance your dream?
The American dream is out there but it isn't free and it isn't easy.
Good luck.

Jul 14, 2010
No User Photo
Biz2Credit LLC
New York County, NY

Mitchell.

Does the liquor store have real estate. Also what is the worth of the liquor license. We at Biz2Credit (www.biz2credit.com) can help you to get financing for the liquor store. Register for free and chose the case manager option. You can also call at 2126444555 ext 107 and I can help you with the process.

Jul 14, 2010

Start a Discussion