Buy or sell a business in Franklin, TN

How people pay for a business in Franklin

• SBA 7(a) LoanSBA 7(a) LoanA bank loan partly guaranteed by the U.S. Small Business Administration, often used to buy a business.: a bank loan partly backed by the government, the most common way to buy a small business.
• Seller FinancingSeller FinancingWhen the current owner lets you pay part of the price over time instead of all at closing.: the owner lets you pay part of the price over time.
• USDA Business & Industry LoanUSDA Business & Industry LoanA business loan partly backed by the U.S. Department of Agriculture for businesses in towns of 50,000 people or fewer. It can be used to buy a business.: for businesses in smaller towns and rural areas around Franklin; a lender can tell you if the location qualifies.
• PartnershipPartnershipTwo or more people own and run the business together and share profits and decisions.: you buy in with someone and share ownership.
• Earn-InEarn-InYou gradually earn ownership of the business by working in it and hitting agreed milestones.: you earn ownership by working in the business over time.

Before you buy, do your own Due DiligenceDue DiligenceCarefully reviewing the business before deciding whether to buy it. with a local CPA, attorney, and lender. All business terms explained.