A business note is created when the owner of a business sells that business, offering his own
financing to the buyer. This is similar to a real estate note, except that a business note is secured by
a business rather than by real estate.
It is usually more difficult to get a bank loan for the purchase of a small business than it is to get a
loan for a home or building. This can be attributed to a variety of reasons, but is most often related
to the amount of collateral available to secure the loan.
TYPICAL REQUIREMENTS
The list below provides guidelines that we utilize when deciding whether to purchase a business
note. Although we like to see all of these items, lacking strength in one area may be acceptable if
the others are especially strong. The guidelines are:
We can purchase all or only a portion of the payments that you are receiving.
financing to the buyer. This is similar to a real estate note, except that a business note is secured by
a business rather than by real estate.
It is usually more difficult to get a bank loan for the purchase of a small business than it is to get a
loan for a home or building. This can be attributed to a variety of reasons, but is most often related
to the amount of collateral available to secure the loan.
TYPICAL REQUIREMENTS
The list below provides guidelines that we utilize when deciding whether to purchase a business
note. Although we like to see all of these items, lacking strength in one area may be acceptable if
the others are especially strong. The guidelines are:
- minimum 25% cash down payment by the buyer
- at least two months of payments received from the buyer
- personal guarantee from the buyer and a buyer credit score of at least 650
- 6-year note or less, with full amortization (no large balloon payments at the end)
- business is profitable
- 1st liens only
- In addition, the business note should be for at least $30,000
We can purchase all or only a portion of the payments that you are receiving.
Business Notes
Call 1-800-634-4697 or
E-mail us at seascapecapital@san.rr.com
E-mail us at seascapecapital@san.rr.com
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Seascape Capital