AmiSights 2/13: Why the SBA Is Often the Best Way to Buy a Business
Whether you are an existing business owner looking to acquire a business, an entrepreneur considering buying your first business, or just interested in learning more about acquisition opportunities, MultiFunding President Lynn Ozer has some valuable tips about SBA loans in an upcoming webinar this Thursday.
While the current 10.25% interest rate of an SBA 7(a) loan is higher than a conventional bank loan, that shouldn't scare off potential borrowers. After all, it isn't the loan's percentage rate that keeps business owners up at night; it's the monthly payment. With a lower down payment and longer loan length (10 years v. five years), an SBA loan results in less money upfront, more money left over, and, most importantly, a much lower monthly payment. And if your business takes off, there is no prepayment penalty.
Join Lynn as she discusses which businesses are eligible for an SBA loan, what collateral is needed, and how to come up with the money for the down payment. Register here for the webinar, which starts at noon Thursday.