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Selling share of business, Welcome
You have been in business since 2000. Guessing that you have an Accountant.
Start with him. Next talk to your Lawyer.
Finally, maybe you can take Promissory Notes from your brother (Future payments)
since this is all in the family
Good luck, LUCKIEST
we can do a promissory note for part, but we would like to get him to finance a majority of it. Do lenders lend on part ownership and with minimal assets?
Selling share of business, Hopefully you will get some answers from lenders.
Again the best info should come from your Lawyer.
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We have a pizza parlor that we have been running since 2000. I am relocating to the east coast and would like to sell my brother a majority share. He has been the operations manager of the restaurant since I purchased it. We are an s corp and it does have a positive cash flow. How do we go about getting financing for this? My brother does not have much in assests, but I am willing to help him as much as I can. Please advise.