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    0 Replies Latest reply on Oct 22, 2008 4:36 PM by IK_PJ_IK

    Trying to get a loan for an established business

    IK_PJ_IK Newbie
      Alright, hopefully I can get some answers to the many quesions I have. 3 partnes and I would like to go in together and purchase a karaoke bar. The owner has had the bar established for about 10 years now. She's selling the business, equipment, liquor, and liquor license for $500,000. 1 partner is willing to buy 51% of the business and then between myself and the two other people, we would pick up the other 49%. So I'm looking at somewhere around $80,000. I'm very new to this, but very serious. I'm 24 and in the Army. I have no idea where to even start. I know I need to look into getting a small business loan, but what exactly do I want to look for in that loan? If anybody can help me out, I would appreciate it. Thanks.

      ~PJ