Business Acquisition Loan

Loan options vary as per your situation concerning the amount needed, repayment terms, and other preferable choices. You may choose one option over another.
For each loan type, it is best to fill out an application form. Through that form, a series of questions will be asked. Answering them will help us understand the type of finance your business needs and match you to the best fit option.

Basic requirements & conditions depend upon the amount & type of loan you are applying for. Lenders look at the specifics. However, here are some of the overarching requirements:

SBA Business Acquisition Loan requirements
• Details about the operation/s and location/s of the business
• Detailed and directional business plan
• Be an SBA acceptable Industry
• Ownership requirement and eligibility
• Acceptable personal and business credit scores
• Profit Making Status of business
• Compliance with SBA Size standards
• Loan history/ details on exhausted other funding options
• Plans and intentions on loan repayment

Additional Requirements (some lenders may ask):
• Your vision for Financial Future
• Time in business
• Collateral guarantee against non-payment

Equipment Loan requirements
Loan required for purchasing, repairing, replacing, or upgrading various equipment, require:
• Information about the operation and location of the business
• Future Business plans
• Personal or commercial credit scores
• References from financial institutions (it may vary)

Start-up Loan Requirements
• A complete and detailed business plan
• Location of your business operations
• Proof of ownership
• Government-issued photo ID
• Bank statements and Tax ID number
• Good credit score
• No delinquencies in the recent past
Note: Some lenders may request some additional documents depending on the present loan conditions & your previous loan history (if any)

Many lenders offer business acquisition loans to buy a business, each with flexible rates and terms. It is easier to get a loan if you already own an existing business. However, some lenders also offer business acquisition loans to start-ups. Through Smansha Marketplace, we help your capital requirements match the right lender. To begin with, you need to sign-up and fill our application form.

You can use the Business Acquisition loan to:
• Purchase or take over an established business
• Buy a new location
• Buy equipment or acquire novel technology
• Acquire new product & make improvements
• Consolidate your market space

A good credit score is always a positive factor when applying for funding. When meeting with your potential lender, show them your personal and commercial credit reports are in good shape. In case they are not well, make sure you work aggressively to improve them. Meanwhile, some of the lenders also review the potential in your business plan. They analyze it based on the factors like your time in business, business idea viability, revenue generation capacity, ability to repay the loan, your venture's location, etc., apart from merely the credit scores.
Meanwhile, you shall cross-check the accuracy of your credit reports and start acting responsibly with credit-positive actions. You can always return with an improved credit performance to continue your business expansion plans. The lenders may consider rolling up your borrowing strategy.

Once you have decided to go ahead with the business acquisition loan application, & have all your documents ready, apply. A complete application package without any error or missing details & documents will certainly process things faster.

There are a few different business acquisition options like equipment financing, SBA business acquisition loans, start-up loans.