I am a very successful District Manager for a retail company.

An SBA loan would be perfect if you could raise $1M.

Maybe you can somehow take over management and get option to buy. Then worry about financing when it's running better.

>>1664204
Also I am a veteran

>>1664204
Any idea how to structure such an arrangement?

>>1664105
Oh yeah, well my uncle works at Nintendo

>>1664105
you can actually just go talk to loan officers at your bank and see what your options are.

>>1664105
See if he will finance part of the sale of the business to you. You could offer to pay him x% of profits over a certain amount of years, similar to a loan.

>>1664105

Depends. If you're job is going good why do you want to jump ship?

As for buying the business it depends on the numbers the company can show you, and actually visiting it firsthand and getting a feel for it.

If they want $4million they need to be netting at least $1million a year. Otherwise I would not buy it.

If everything checks out, document all the data, and start talking to some banks. if your credit and track record are good, and the company data checks out, you could get a bank loan to buy the business.

>>1664823
>If you're job is going good why do you want to jump ship?

I want to work for myself and become independently wealthy. Also, despite my success there are political barriers within the organization preventing me from moving up. Namely I am a white male in an industry they are trying to infuse with minority and female leadership.

How much money do you think the bank would want me to put down?

>>1664921
>How much money do you think the bank would want me to put down?
if you're too intelligent to call them and instead seek the superior advice of 4chan, where nobody has ever done what you're asking,

they're going to want 125% down. special just for you.

>>1664924
Don't be like that, anon. I am just trying to figure out as much as I can so I don't go in completely ignorant.

>>1664927
they'll probably want about 20% but it depends very much on your credit and the books of the business.

if the biz is worth $8 MM and you need 4 then you can probably get a loan with very little down. Likewise if you need 4 and the thing has assets worth 4. Or whatever.

you really need to talk to a banker to get any idea though. I've only seen a couple anons here that own businesses, and I've never seen one that got a loan from a bank to buy one.

you're literally asking people that have no idea.

>>1664934
4chan surprises me every now and then

>>1664921

on 4 million i would imagine you'd need to put up your home. Maybe more.

Their gonna need a few hundred thousand they can seize if shit goes sideways. Plus the business obviously.

Also given your situation i don't imagine them offering you a good interest rate.

But forget 4chan just start calling some banks and asking them about the deal.