Business Acquisition Financing:

In this series of articles we reveal five possible business financing sources for those interested in purchasing a business or franchise.

Family Members

Ever heard of the “rich uncle” theory? Some budding entrepreneurs find family members with sufficient liquid assets who willingly loan the down payment (or even the entire purchase price) to younger family members. Success in securing a loan usually takes a bit more than simply making a request. The older generation is more inclined to make loans to those demonstrating their initiative business savvy by researching possible businesses and then presenting a well thought-out business plan.

Stay tuned: next we will discuss more financing sources, Banks and the Small Business Administration (SBA).