The U.S. economy’s worst recession in the post-war era has begun to turn for the better. Yet, despite the fact that the doom and gloom of the past 20-plus months may be behind us, entrepreneurs seeking to buy businesses still find it difficult to get banks to finance their purchases.
Fortunately, there are a multitude of other options available to business buyers and they center on an entrepreneur’s ability to use creative financing for his or her purchase.
Using Other People’s Money
The vast majority of small business entrepreneurs do not have enough capital to buy a business outright, and banks can present insurmountable barriers.…
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