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    1 Reply Latest reply on Aug 2, 2014 11:08 PM by cpajoe

    Buying an exsisting business

    af1animal Newbie

      I have no money and no current job.  I have a felony in my past which is impacting me for finding a job.  I am applying for jobs with no response so I am trying to take charge of my life and I was thinking about buying a neighborhood, established business.  I have a Technical background in building and electrical maintenance and 8 yrs in the military but the business deals with army surplus.  Amy I foolish in thinking I can do this and would anybody really loan me money in my present state of joblessness and past?

        • Re: Buying an exsisting business
          cpajoe Scout

          To acquire an existing business the seller will usually require at least a deposit and a lender will also want you to have "skin in the game". You may have a better chance for success if you go into this venture with a partner with capital and some experience in the business to be able to make this work.