Posts tagged Businesses

Dublin, CA (Vocus) 29 September 2010

Small Business and Jobs Credit Act of 2010, recently signed by President Obama, should improve access to funds from people interested in buying a small business in California. But entrepreneurs are encouraged to prepare now the possibility of borrowing because the window under the new law can not stay open too long, said Peter Siegel, MBA, founder and CEO of www.BizBen.com, the main center of government for the purchase and selling small businesses.

buyers who need additional capital to complete a transaction, or someone who is always in search of cash to quickly if a company found suitable finish should act, not to lose time required using the four steps to SBA loans are pre-qualified, “Siegel said. “If the recent past is a reliable indicator that lenders are motivated to make loans while SBA 7 (a) loan program incentives – reactivated by the new law are available -. Among the incentives is the most popular federal guarantee of up to 90 % of the loan amount. “

To be a candidate of attractive credit, SBA loans and get pre-qualified, even before the money needed, said Mr. Siegel, that potential buyers are business:

1 Then decide the document are capable and willing to do financially. How much money you have to go that in order to obtain a down payment and working capital? Is there money to friends and / or parents? What assets could be used for documents? They are realistic about the value and importance of assets such as home equity and stock market investments that help could get a loan?

2 Prepare an updated resume indicating your work experience. The focus should be on the strengths and abilities that can be used to successfully manage a small business will be placed. A background in the fast-food should be emphasized when trying to get money to buy a company in this sector. And the experience of officers, keeping financial records and dealing with suppliers is important and should be described to potential lenders.

3 Have a basic business plan. If you find a company you want to buy and need more money to acquire, itâ? S important to develop a business plan contains specific steps taken to the operation and the business will be. Few lenders consider a loan application that lacks a business plan. The plan shall include a summary of some of the problems that arise in operating the business as well as strategies for solving these problems.

And any buyer who does not yet identified a company he or she wants it now must learn how to write a business plan to be ready to produce, when to create the demand.

4 Line up a loan broker and consultant to the SBA. Youâ? Will a pro, what lender (s) will be willing and able to require that the funds that you need to know. Make sure you have someone who is experienced in the preparation of loan applications that are purchased specifically for small businesses.

A common mistake of lethal and so the buyers of pre-qualified small businesses in California will not that money made available if needed, to complete a transaction.

â? These ideas and many tools are needed to achieve them are assembled in the Buyerâ? s Success program recently on the site www.BizBen.com, â? Mr. Siegel.

ITA’s encouraging to see that the volume of targeted visitors of this program – interested pre-qualified – has increased since mid-September, when the law was approved by the Senate of the United States and to the President.

buyers of small businesses are learning that time is an important factor not only because sellers are anxious, not only because other buyers can be ready when you do not

.

â? The fact is that we donâ? t expect a long-term opportunity for buyers in California for small businesses by the SBA 7 (a) loan program benefits. So today is the best time for working on the submission of an application for credit. Pre-qualification is often the difference in the successful completion of trust you want to buy. “

BizBen was an important factor in Californiaâ? s sale of small and medium enterprises since 1994. It consists of 1) www.BizBen.com an offer of online information dynamic + 7000 company has for sale in California exchange (with 200 new listings every day), and provided valuable information and ideas through a daily blog, webinars, articles and radio broadcasts online, 2) BizBen network of 16,000 business customers, 4,000 business / seller, about 1,800 brokers, agents and brokers, advisers and 600 / resource providers and 3) BizBen index that includes small business sales data across the country and offers much , up-to-the minute statistics on sales in California, small and medium enterprises.

coordinates:

Peter Siegel

Phone: 866-270-6278

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