Did You Know That It Has Officially Never Been Easier To Buy Businesses?
Takeaway: Even through these tough economic conditions, buyers are still buying because money is easy to borrow.
For the first time ever, as part of the recently passed CARES Act (due to COVID-19), all new SBA 7a loans completed between March 27, 2020, and September 27, 2020, include six months of paid principal AND interest.
What does that mean for you as a seller?
It means that there has officially never been an easier time to sell a business to a qualified buyer, for your qualified business.
The COVID-19 crisis has everyone worried – what will happen? What will the economy be like tomorrow, or six months from now? Can I still sell my business?
The answer is: Regardless of economic conditions, the SBA has made it easy for buyers to purchase businesses – which means it is easier to attain financing capable of supporting qualified business transactions.
Not only that – but the SBA gives the buyer up to six months of FREE principal and interest payments – meaning the first 6 months of the loan are free.
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