Professional credit to buy a business: the steps – Business Loans

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The purchase of a business involves following certain steps to obtain financing, here are the steps to obtain a professional credit.

Finance a business

Finance a business

Buying a business can be done as part of a business creation or the resumption of an existing business, the business loan can finance both types of projects. When the company is already existing, it is possible to build on the years of previous activities. That is to say that the bank will rely on balance sheets and income statements to assess the value of the company but especially the profitability that will repay the loan. 

Take back a business

Several steps must be taken in the context of a recovery of a goodwill, it is first necessary to identify the company to resume and carry out a diagnosis of its activity, that is to say, its weak points, its strengths but also to project itself in a development of the activity to reassure the lenders on the repayment of their debts.

Finance a new business

The launch of an activity implies the realization of a business plan, it is a file that will make it possible to evaluate the market, the target but also the potential revenue and expenses related to the launch of the activity. Everything must be scrutinized to accurately quantify the need for financing commercial activity. The banker can be reassured on the skills of the entrepreneur but also on the repayment of the professional loan.

Get a business credit to finance the purchase of the business

Get a business credit to finance the purchase of the business

Whether in the context of a recovery or an activity launch, preparatory work upstream defines the envelope that will be required to finance the business loan. Therefore, all tangible and intangible assets must be listed, and a credit application must be filed with a financing professional. It should be known that the duration of a pro credit can not exceed 7 years, it is necessary that the monthly payment can be covered by the activity of the company from the first months, taking into account if possible the seasonal periods.

It is possible that the banks require a contribution from the borrower who buys the business, this contribution is a guarantee on the repayment of sums due, but also reassures the lender. Other guarantees can also be requested as the physical deposit or the moral guarantee but also the pledge of the goodwill (similar to the mortgage).

Simulate a professional loan online

Simulate a professional loan online

It is difficult to be able to project without having a first opinion of feasibility in the context of a purchase of goodwill. The idea of ​​the online simulator is to allow entrepreneurs to obtain a first estimate of financing in the context of a commercial purchase and especially to check if the project is compatible. It is necessary to fill in the information concerning his professional project and to validate the entry. Several offers will be quickly proposed, facilitating a comparison of professional loan proposals.