Updated about 9 years ago on . Most recent reply
Selling my automotive business. Buyer needs to finance $35k
So I am selling my automotive repair shop for $90k. Buyer has $55k as a downpayment. I would like to explore my options on how I can make this deal happen. I am very anxious to sell the business and make the move to North Carolina with my wife. We were actually hoping to close the deal this week but buyer can not get the financing in place.
How can I structure this deal so that I become a private lender for the remaining $35k? Any articles or places I can do research on the subject would be greatly appreciated. I was thinking to lend him the $35 on a 18mo repayment at around 4%.