Has anyone been able to successfully buy a small business with limited capital? What type of route did you take?

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Usually an SBA loan is the best way to go. You can lever 10X your cash injection

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I'm starting the process to buy half of a local small business. Everything starts with due diligence; 3 years of tax returns and financial statements. The bank will want these documents as well.

I agree with the earlier post that SBA loan is the way to go. The SBA 7a loans seems to have the most flexibility in loan terms, source of down payment, and the interest rates are fair.

I’d recommend attaining 5 years of info if possible especially with 2020 and Covid since it could be a huge outlier year affecting the numbers for better or worse than usual.

Do you need to keep your house as collateral for SBA loan?

My understanding is that they will not place your house as collateral is you have Home Equity Loan.

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