Small Business Acquisition Loan Amounts Welcome
We just confirmed that yet another lender has raised its minimum loan amount to $400,000! Many won’t touch under $500k and even some of our favorites can’t help below $350,000.
Are you trying to buy a business that’s substantially smaller than that? We have news for you! You’re IMPORTANT TO US! We have limits too, but not like that.
If you’re buying a practice or book of business that is priced $180,000 or more, we can probably use our primary SBA loan program or a conventional loan program. If it’s smaller, we may still be able to help. We even originated one in South Carolina recently where the price was only $67,000 though it involved a local conventional non-SBA loan we were lucky to find and also other circumstances that made it work (2nd income, low price for revenues etc).
Small practices often pose a problem – many don’t have enough cash flow to support the customer and the loan debt coverage ratio. But many are just fine – they just don’t cost very much! There are specific things that make it difficult to define in an article such as this, so your individual situation is what we want to know about.
Please call Coffman Capital if you’re trying to buy an existing, profitable, established (i.e. not new or being dumped) successful business and can’t seem to find a lender because it’s not the right size.
We’ve been doing this for over 20 years and we do not turn our backs on the important loans that happen to be a little smaller! And you get good terms too! It’s not a “bottom-feeder” program!
We look forward to helping you succeed! Call 813-891-1811 today or send us an email from our Contact page!!