BizBuySell Partners with Financial Services Leaders to Launch New Small Business Lending Center
New feature makes it easier for entrepreneurs to finance the purchase of a business.
San Francisco, CA - January 3, 2008 -- BizBuySell, the Internet's largest business for sale marketplace, today announced the launch of an online lending center to help provide financing for both novice and experienced entrepreneurs.
BizBuySell partnered with leading small business financial services institutions to launch the feature, which gives buyers and sellers easier access to pre-qualification for SBA (U.S. Small Business Administration) loans. Potential small business buyers and small business sellers can visit the Financing page on the BizBuySell Web site and begin the loan pre-qualification process according to their needs.
"Our partnership with some of the largest small business finance organizations in the world marks a significant step forward in the ease with which serious buyers and sellers can experience pre-qualifying for SBA, or other small business loans," said Mike Handelsman, General Manager of BizBuySell. "Using BizBuySell's new Lending Center can greatly accelerate the buying or selling process."The feature can help create a more efficient small business marketplace in which qualified and serious small business buyers and sellers identify themselves by opting into a process of SBA pre-qualification. As a result, successful deals can close more easily and frequently.
Those looking to buy a business can use the Lending Center to begin the pre-qualification process for an SBA loan up to a specific amount, and get a better sense of how much they can afford in a business purchase.
The feature allows small business buyers to show business owners that they are serious about purchasing a business and willing to do the legwork of being pre-qualified, assuring sellers of their legitimacy and ability to finance a deal.
BizBuySell users listing a business for sale can benefit from loan pre-qualification by making their business more attractive to potential buyers, and lowering the chance that they will have to provide seller-financing to make the deal happen. Seller financing is one of the biggest barriers preventing small business transactions from closing.
SBA pre-qualified sellers can provide buyers with assurance of legitimacy surrounding financials, as well as assist buyers in obtaining financing more easily.
The loan center also helps borrowers prepare for the application process by outlining SBA loan requirements, explaining how SBA lending works and specifying what lenders look for.
BizBuySell is the Internet's largest business for sale marketplace. Since 1996, BizBuySell has offered tools that make it easy for business owners and brokers to sell a business, and potential buyers to find the business of their dreams. BizBuySell currently has an inventory of approximately businesses - spanning 80 countries - for sale at any one time and receives more than monthly visits. The site also features an extensive franchise directory as well as an easy-to-use business valuation tool. Please visit www.bizbuysell.com for more information.
BizBuySell was founded in 1996 and in 2012 became a division of CoStar Group, Inc. (NASDAQ - CSGP) - commercial real estate's leading provider of information and analytic services. CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information and offers a suite of online services enabling clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. For more information, visit www.costar.com.
Walker Sands Communications
office: (312) 546-4712