When should I get pre-qualified to buy a business?
Similar to buying a house, one of the first steps buyer candidates should take when buying a business is to get pre-qualified for financing. Fortunately, our SBA lenders can assist you with various financing options.
Here are three reasons you should get pre-qualified early:
- Determine fundability. Using a pre-qual tool, candidates can find out not only whether they qualify for funding, but also which funding methods would work for them.
- Nail down a business budget. A pre-qual tool instantly calculates an individual’s maximum funding amount so candidates can narrow down their business search to opportunities that fall within their financial limits.
- Compare financing options. The tool also provides a comparison chart of a candidate’s eligible financing methods so they can easily see how each option differs in terms of monthly repayments, interest rates, etc.
Give us a call today for a free consultation on route financing options.