Creative financing for businesses
Hi everyone,
I need some brainstorming from anyone that can answer this with strategies... So here it is.
I'm trying to purchase an existing business that is listed for $375,000 right now. It is free and clear. It grosses over $700,000, and nets $200,000.
I spoke with the owner and he'll take $300,000 cash today.
So, here's the deal... I had enough funds to be able to leverage near that amount until my wife suddenly passed away last year which devastated our savings.
Now I'm trying to figure whether or not all those "no down real estate programs" can be adapted towards business acquisition. I am sure they exist some place, but apparently they aren't as popular as no down RE programs or someone would be selling them too...
Anyone up for the challenge to throw out some strategies???
Thanks in advance...
Jerik of Cu Gelert
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