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Business Loans

Get UNSECURED  Business Lines of Credit: $25,000 to $150,000

What is an UNSECURED Business Line of Credit (Loan)? An unsecured line of credit (loan) is an advance of money that does not require collateral, such as a house, as security the loan will be re-paid. Instead the loan is backed up only by the borrower's promise to repay. Unsecured loans are also known as signature loans, because they only require your signature to get funded.

MKL is a loan consulting and placement firm, specializing in providing UNSECURED Business Lines of Credit (Loan) approvals in a fair, efficient and easy to understand manner for individuals and small business owners nationwide. Click here to  GET STARTED.

MKL prides itself in helping business buyers apply for and receive Loans from SBA Lenders who are what is known as “Cash Flow” Lenders.  SBA loan funds can be used to purchase a business in a number of different ways. Funds can be requested to purchase the entire business, only the assets of an existing business, or purchase the stock of a corporation. When a business is in the form of a partnership, one partner can request funds to buy out the other, as long as the surviving partner will own 100% of the company.

Most business sale transactions are structured with the following possible components to pay the purchase price the Sellers are asking for their business:

  1. Buyers cash down payment for part of the purchase price.
  2. Buyers cash for all of the purchase price.
  3. Lender (usually SBA Lender) may fund from 75% to 85% of the purchase price
  4. Buyer gets a loan on their real estate, either a refinance or an equity loan.
  5. Seller carries back a Note from Buyer for a portion of the purchase price

Call: (855) 343-5544 ext 309 … There is NO COST to you in utilizing The MKL Team to help secure the financing you need to either purchase a business, purchase a business along with it’s real estate, or purchase additional equipment needed in your business.

Request SBA Loan Info or equipment purchase leases online from The MKL Team.

The Basic rule of thumb to remember is that there is no lending institution including the SBA that will generally finance 100% of the purchase price. The SBA will require the applicant to make a cash injection between 15%-30% of the total business plan and this depends on the type of industry the business is in, the financial rating of the SBA Lending Institution and the strength of the buyer. The balance of the funds required can be in the form of a SBA loan. The applicant should have good credit and a basic understanding and experience in the type of business they wish to purchase.

The Following Are Guidelines When Utilizing SBA Proceeds To Finance The Purchase:

  • The applicant should have good, clean credit.
  • The applicants must make a cash injection into the transaction of at least 15% to 30% of the purchase price of the business.
  • The business to be acquired must be profitable and should have sufficient historical cash flow to support the new debt. The following is a good example: Take last years net profit of the business and add back in depreciation, interest, owners salary and any other extraordinary expenses. Then deduct all forward loan payments including the new SBA loan. If there is positive cash flow, then more than likely you are making a good choice, and there is an excellent chance of securing SBA financing.
  • The buyer should have management experience in the line of business being acquired. Franchises are excluded from this requirement since the new owner will be trained by the franchiser.

If the business is a retail operation the SBA would like to see the existing term of the lease and any options to extend be equal to or longer than the term of the loan being requested.

  1. In some cases, loans can be funded with as little as a 15% down payment from the applicant.
  2. In some cases the goodwill can be financed in the loan request.
  3. In some cases loans can be funded with limited personal collateral.

Repayment Terms:
Generally, the maximum length of repayment of the loan cannot exceed 10 years. If the purchase of the business includes Real Property, then the term of the loan will be longer. The loan will become a blended term somewhere between 10 and 25 years.

Request SBA Loan Info or equipment purchase leases online from The MKL Team.

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