I am a self funded searcher, i am looking at a company which is valued at 9 million dollar, and has attractive earnings/cashflow, where i can pay back 100% in 3 years or less - if i don't take a pay., The seller is willing to carry 15% note, and i can put in 10% down. This is a situation where the traditional SBA 7(a) loan would not cover the total cost of acquisition. Is this a deal breaker or still should pursue this dream. I am sorry , i tried to search the forum for an answer, and nothing would pop up.
Break Down:
- Selling price - 9 million
- Down payment###-###-#### K (*10%)
- Sellers note###-###-#### million (15%)
- Loan required###-###-#### million ( have to figure out the funding)
Your help is greatly appreciated and would love your input on the best way to approach this.
Cheers
Financing a 9 million acquisition - self funded searcher
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by a searcher from Florida Institute of Technology
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