Sunday, January 15, 2012

How could I buy a profitable business with no money down?

A friend is selling a business due to personal reasons. He has shown me his books, and it is profitable. I would be interested in buying it. However, I cant put any money down, and cannot get any money from outside sources (family, friends, loan sharks LOL). Would there ever be a way a bank would loan you the money when you can show the business is (and has been) profitable on a yearly basis, without having an upfront collateral? Most of the loan would be for the land/building, so the business/property itself would be a good collateral towards the loan. Thoughts?

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