Loan proceeds can be used to fund the purchase of a portion of one or more owner's interest in the business or of the business itself. Details below.
Both the business and the individual owner(s) who is acquiring the ownership interest must be co-borrowers on the new loan.
All remaining owners are subject to the requirements for guaranties (20% or more ownership), but the percentage of ownership for this requirement will be based on the post-sale percentage of ownership in the business.
The seller may stay on as an owner, officer, director, stockholder, key employee, or employee of the business.
When You're Ready to Grow Your Business Horizons! Call Us First!
Mark Austin (626) 864-9999
mark@BFGloan.com
or
mark@getpropertyloans.com
Real Estate and Business Finance Group | (626) 864-9999 |
