I tried the bank. The business I am buying is a service company so I am only buying clients the bank said "no assets no loan" they want something to auction if it fails. I have 10+ years experience need help. Any suggestions out there?
      Answer1:They are looking at your experience as an employee, not as a business owner - different beasts all together:)Will the person you are buying the business from finance you with a smaller down payment? Wouldnt hurt to ask because they may have the financial track record that you do not.If they have been in business any length of time, there should be a client list, trade agreements or something that you can leverage for a smaller loan. If they dont have any of these, you might want to rethink buying this business - even if you had the money.
      Answer2:The credit union where I have only would give me a $10,000 loan and I would pay for the loan like any other person at 10-15% of the loan. The person in the credit union would not give Donald Trump a higher loan even though he has great credit. My question to you is can you afford to pay the $50,000 over a period of time? Talk with a realtor or mortgage broker and let them see if you can afford to pay this amount. You will be borrowing money from someone and I know they will want their $50,000 + interest + other charges back in their pocket.
      Answer3:search: Business Empire Magazine (get error when i put link)they have a lot of information on cost efficient ways to build and grow a business. The general information should be able to answer your questions