Get Qualified

Once you determine that business ownership is definitely for you, you need to make sure you have the means of ultimately closing a deal. Lending institutions have different criteria for business loans than for consumer loans, which means you will likely have to bring more money to closing. There are also experience requirments and regulatory requirements involved in buying and operating some businesses.

The best way to get qualified to continue the process is to work with a business intermediary who understands the market, the lenders, the investors and the sellers. A good business intermediary will help you identify what you are able to afford and what businesses are a good fit for your skills, background and experience.

Next Step: Talk to the Bank

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