SBA loan and seller down payment?
I have two questions involving purchasing a business.
What would the minimum down payment be to purchase a business through the SBA and the requirements to do so?
Would it be possible to have a business with seller financing, and still have a loan through the SBA.
Here's an example of what I mean:
Business for sale: $300,000.00
Seller requires: $100,000.00 down payment
Let's say I have: $30,000.00
I need: $70,000.00 from the SBA
Could I still purchase this business if I technically only had $30,000.00?
Thank you so much and all responses are greatly appreciated!