All Forum Posts by: Allison Haley

@Clayton Plank no she has a note to be paid off. 

I am looking to finance a business purchase outside of a traditional bank. I have been running this business for a friend for 3 years and would love to purchase 1 possibly 2 locations from her. Any suggestions on where to start?

She still has a note on the business that would have to be paid. 

I am looking to finance a business purchase outside of a traditional bank.  I have been running this business for a friend for 3 years and would love to purchase 1 possibly 2 locations from her.  Any suggestions on where to start?

A friend of mine has 1 business, 3 locations.  I have been managing them for 3 years now.  She is wanting me to purchase two of them, by assuming the payments at the bank without changing the information at the bank.  She is ready to retire and would like to make this as fast and simple as possible.  How would this work?  What kind of agreement would this take? Would I operate under her EIN or create my own? If this is a Franchise, would we do a Bill of Sale on the Franchise sell and in our agreement say if at anytime there is default a Bill of Sale is voided???  

Any thoughts would be appreciated.