Perhaps you’re tired of working for someone else and would like to be your own boss. Or maybe you’ve owned a small business for a while and are looking to grow through acquisition. Regardless of why you’re in the market, there is a laundry list of things to consider before you put your signature on that final purchase contract. This article will guide you through the process.
What’s the financing option that small business owners love to have, but hate to get?
The answer: an SBA loan.
An SBA loan is often the most affordable financing option for small business owners. As we’ve said before, SBA loans are the holy grail of small business loans. But with stringent lending criteria and lengthy approval processes, gettingone is usually a headache.
We don’t want you to look like the gal in the photo up top. That’s why we’ve put together this primer with the five most important things you need to know about SBA loans to help you navigate the SBA process:
As a small business owner, how do you prepare effectively for retirement? You’ve probably been advised to save regularly and make wise personal investments – two important leverage points, no doubt. You may count on selling your business to help fund your retirement, like 35% of small business owners across the country. But are you doing what’s in your control to maximize the likelihood you’ll be able to sell profitably?
Regardless of what your answer is, we wrote this article to help you put yourself and your business in the best possible position as you look towards a potential sale.