correction: before the original business SALE closes
a prime location for another venture is opening up. high startup costs so i need an sba loan. how does this affect me if my original business is for sale?
You must log in or register to comment.
If you have the cash it’s certainly possible, but it might be harder to get approved without secondary income as the startup will need to generate enough cash flow to cover all business and personal expenses. If it’s not a franchise you’ll also see a lot of lenders requiring 20 - 30% down instead of the minimum 10%.