Purchase a Business
Purchasing a business typically requires financing 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.
Purpose of 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.
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 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.
Cost of Buying a Business
Business acquisition loan amounts range from $5,000 all the way up to $5,000,000.
Business Acquisition Loan Process
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.
Business Acquisition Loan Requirements
Records of the business’s financial performance and valuation
Any related experience that will help you successfully manage and grow the business
Applying for a Business Acquisition Loan
Our 5-15-minute online application gives you access to the Noggin Finance network of over 1,000 lenders.
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.
Low Costs, Low Interest Rates
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 2.5%, which means you’ll save a bundle of cash over the lifetime of your loan.