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    5 Replies Latest reply on Dec 11, 2007 2:23 PM by CorpCons08

    Question about loans for buying an existing small business

    ihablue Newbie
      I am in the process of negotiating the purchase of a small business here in Western NC where I live and have a few questions about the loan process. First, since it is a pre-existing business will there be anything labeled as "Start-up"? Second, the gorss sales for last year are reported as being at just under $50,000, but that was done only working 3 days a week. I plan working 5 days a week which will increase the sales along with other ideas I have that will increase sales. That being said, is it ridiculous to ask for a $30,000 loan? Third, I am of Hispanic descent, are there additional grants or loans I should look for that give benefits to my descent?