How to get a loan for the purchase of ready business

Online loans

An online loan is an easy and quick way to solve temporary financial difficulties. Until recently, in order to get a loan, a potential borrower had to go to a bank branch, fill out a long questionnaire, providing comprehensive information about himself, his place of work, financial condition and relatives, and then languish for another hour and a half waiting for a response to the loan application.

Very often you can find deals on the implementation of the business. It stores, beauty shops, small businesses, and much more. Is it possible to receive a loan for the purchase of ready business?
Obtaining such loan is quite real, but it is accompanied by a series of some features. Will make a difference and he and business, and the person who wants to obtain it on credit.

How to get a loan for the purchase of ready business -Any entrepreneur knows that to create, debug and tune business is not easy. Starting period in any business is the most difficult. Therefore, buy an existing business, consistently making a profit is much more convenient from the standpoint of how to expand and diversify its business and in terms of profitable investment of available funds. But sometimes it happens that their own money to buy a ready business is not enough, you need to take out a loan. Let’s see how to get a loan for the purchase of ready business.

All banks like collateralized loan issued under. Therefore, the purchased company will have to lay. Depending on the liquidity of the property can receive up to 90% of the collateral value. However, if the company is highly profitable, its value is usually equal to the profit for the next few years and the cost of fixed assets. Therefore, the bailout money is not enough to redeem businesses, necessarily require their own money. It is also a requirement of the bank – the new owner must invest its own funds not less than 30% of the requested loan.

Another essential requirement is the availability of bank investment business plan. Getting a loan for the purchase of ready business banks are considering as an investment, they want to see not just the enterprise transition from one owner to another, but the prospects for business development and expansion. It is necessary to consider when buying a ready business.

If you have purchased the company has not repaid loans, the loan for the purchase of ready business is better to take in the bank that issued the previous loan. The chances of getting a loan in this case many times increase, it all depends on the credit history.

The scheme of transfer of ownership also affects the loan. Typically, the buyer is introduced into the founders and as the calculation with the sellers, its share is increasing. If the sale is carried out of private business, it will be necessary to establish a new company, which will include the buyer and sold the business completely. The balance of the new venture will be zero, so the bank has to be aware of the activities.

If the business is not currently profitable, you will need to create a competent business plan or the provision of any liquid assets of the borrower, which is comparable to the cost of the loan amount. Assets owned by the company buys in to leave a deposit can not, as at the time of registration of the loan they have not yet belong to the borrower.

In general, the easiest to get a loan for the purchase of ready business already existing entrepreneur who operates successfully for over a year.