Purchasing an existing franchise or business - versus building new - can often be a great way to get into business ownership and start generating income quickly. However, when doing this, financing the purchase can still be a challenge for some.
Many entrepreneurs utilize their retirement funds through 401k business financing. If this isn't an option for you then you'll need to obtain credit. Interest rates will vary, depending on the overall credit picture and the amount of financing required. Each business situation is different, and so is each borrowing process.
One thing you should consider is the five key elements a borrower should have to obtain credit:
Benetrends is more than well-equipped to assist you with all of your business acquisition funding needs. In fact, through SBA loans and other funding options, we have the ability to get up to 100% of the financing you'll require.
Typical businesses we work with: