AmiSight 8/10: Don’t Fall for This Business Acquisition Financing Trap
In several deals we have recently been working on we have come across an alternative business financing platform called www.boopos.com. The site offers quick decisions, no personal guarantees, and terms of 1 – 5 years. We understand that the APR ranges are 15 – 25%.
Some unscrupulous business brokers are pushing prospective buyers to this platform, instead of going through the longer and more difficult process of getting an SBA loan. They want to earn their commissions and get the deal done.
Don’t fall for this trap!! The most important factor to consider in a financing solution is what your monthly payment will be. Short amortizations and high interest rates might lead to a quicker approval but won’t support your needs in the long run.
Want to learn more about how to get an SBA loan done properly to acquire a business? Join us for a webinar today at noon. ….Join Here