Business Financing Guidelines, which indicates the items that will need to prepare if you plan to get loans from financial institutions when you buy. Obtaining financing can be easier to finance and complete knowledge of preparing documents and reports in the purchase.
Step 1. Search Business for Sale on the internet for businesses for sale, commercial real estate for sale in the market. Once a property is found, making the necessary contacts to sellers.
Step 2. Get a purchase and sale agreement sales broker, lawyer, or escrow company.
Step 3. Find a loan officer who will handle your financing needs.
Step 4. Prepare necessary documents and the sale and purchase agreement for business or commercial property
- Personal financial statements provided by creditor
- Income tax on both buyers and sellers of the past three years
- Consolidated profit and loss account up to date,
- Resume from buyer
- Lease Agreement (if applicable)
- Tasks for rental (if applicable)
Step 5. Finally, waiting for credit approval (usually takes 2-4 weeks)
Because the funding process may differ by type of business, location and situation of the buyer.