When looking to finance a business sale, seller financing is usually the cheapest and easiest to obtain. It also helps tell the Buyer that the seller has confidence in the business. Usually with seller financing the buyer doesn't have to pay any loan costs and interest rates can be less than what a bank might charge for buying a business. Loans from the business seller can be a great source of financing although sometimes the buyer might find they can get a longer term from the bank. Business with good financial history and a profitable history are usually good candidates for a bank loan. They require a lot of documentation and the payment of upfront fees. In recent years, bank loans, which are guaranteed by the Small Business Administration (SBA), have become very popular and more readily available.
Whether you are looking for seller financing, a bank loan, a second mortgage or a loan backed by SBA (Small Business Administration) funding you can calculate monthly payments on this simple loan calculator.
Truforte Business Group is experienced in transactions with both seller financing as well as working with lenders who provide SBA backed loans. We have relationships with a number of different lenders who are willing to work with both buyers and sellers. In many cases we can help put the both the buyer and seller in touch with a lender who may be able to provide a pre-qualification on a business sale or purchase.