Purchase a Business Solid Number
Purchase a Business
Typically referred to as an acquisition loan. This capital is given to a company to purchase a specific asset, to acquire another business, or for other reasons that are laid out before the loan is granted. Typically, a company can only use an acquisition loan for a short window of time and only for the agreed-upon purpose.
What can you do with a business acquisition loan?
Use a business acquisition loan to buy a business. This loan type will help you purchase an existing business or franchise, which means you can take advantage of that stellar business opportunity even if you don’t have the capital to purchase it outright.
The benefits of a business acquisition loan
If you’re looking for a loan to buy a business, this one is tailor-made for you. A business acquisition loan helps you zero in on the benefits of purchasing an existing business or franchise rather than going the startup route—all with terms and rates specifically designed to meet your needs.
Why should you buy a business?
The startup phase of any business can be pretty backbreaking. Skipping to the “established business” phase can save you a headache and give you a leg up in small business. Buying an existing business or franchise enables you to hit the ground running and leverage existing resources to accelerate your growth—which often means you can go further, faster.
How much money can you borrow to buy a business?
Business acquisition loan amounts range from $5,000 all the way up to $5,000,000.
How to get a loan to buy a business
For most small business loans, a lender will review factors like your credit history, time in business, and revenue to determine if you qualify. If you’re buying a business or franchise, your lender will look at slightly different criteria to ensure that you’re investing in a viable business, and in turn, will be able to repay the loan.
Be prepared for these specific application requirements for a business acquisition loan.
Records of the business’s financial performance and valuation
Any related experience that will help you successfully manage and grow the business
How do you apply for a loan to purchase a business?
Our 5-15-minute online application gives you access to Solid Number's network of 75+ lenders. That averages out to 12 seconds spent applying to each lender, making it ideal for a time-saving genius like you.
If you don’t have all your paperwork ready, don’t worry. You can start exploring business acquisition loans today and your funding manager will help you fill in any gaps.
Keep costs down with a low-interest rate
As if a business acquisition loan didn’t make buying a business easy enough, the rates can make the deal even sweeter. If you meet the qualifications, you can receive an interest rate as low as 5.5%, which means you’ll save a bundle of cash over the lifetime of your loan.