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We are trying to sell our independent pizzeria and most people don’t have enough for an all cash deal. How can we get SBA loans or other types of loans in this economy? Providing up to 20% financing for less than 2 years seems ok, but a larger amount seems kind of risky.
Of course, we can always include a clause where non-payment results in repossession of the business, but we won’t have anyone available to take back the business. I also have a question, in that scenario, the new owners would lose their down payment?
Anyone have experience or advice with owner financing and the risks and benefits? It seems that there are interested buyers, but that finding a buyer with the financial resources is quite difficult.
Of course, we can always include a clause where non-payment results in repossession of the business, but we won’t have anyone available to take back the business. I also have a question, in that scenario, the new owners would lose their down payment?
Anyone have experience or advice with owner financing and the risks and benefits? It seems that there are interested buyers, but that finding a buyer with the financial resources is quite difficult.