250,000 Loan to buy existing business ... where on earth do i bring back the money? I just started my own specialized pest control business 1/1/08.

I just started my own specialized pest control business 1/1/08. In 2 months I hold approximately 120K in annual contracts. I enjoy very little overhead. Primarily gas and trucks. I will enjoy the opportunity to purchase an existing pest control business in my nouns very soon for approximately 250-300K. I hold no business debt. Who do I go to for the loan?

Answers: To tag on on to Billy's, you can always find a partner too! Make sure your partner is an asset, not a liability. Good luck!

You are going to own to have some collateral. You may be capable of use your existing home (take a 2nd mortgage). Your next opportunity is an SBA loan from a bank but you will inevitability at least 20% down and they are feasible to only lend against definite assets only (trucks, buildings, resalable equipment.) Your best risk is to see if the owner will carry the register. It may cost you a little more than you have budgeted but it is likely the lone way to in safe hands financing. Good luck