Tagged: Start a Business
- November 27, 2018 at 4:55 pm #288109
I am interested in purchasing my parents business.
It is a dog and cat boarding business which has been operating for ten years. I have two rental properties and a personal residence. I would like to know more about my financial options. As well as any options that would benefit my application such as keeping my parents involved as stakeholders of the company.
Can you recommend some literature with true facts that I can continue my research with. This business acquisition will be in Canada, Alberta.
Thank youDecember 7, 2018 at 2:54 pm #293868
Congratulations on your upcoming business purchase!
I can definitely point you in the right direction, however, not all the options I outline might be available in Canada, this is something that is best verified with an attorney.
The best place to understand all the different financing options to buy a business is our https://fitsmallbusiness.com/how-to-get-a-loan-to-buy-a-business/.
The options outlined include ways to use your existing 401K with a https://fitsmallbusiness.com/rollover-business-startups-robs/ (Rollover for Business Startups) and your existing real estate assets with a HELOC or Home Equity Line of Credit to finance a business purchase.
Best of luck!
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