How to Finance the Purchase of an Existing Business
Purchasing an existing business is an exciting, hopefully lucrative, yet daunting task. From negotiating with the seller to obtaining financing, trying to obtain leverage from a traditional bank, or perhaps working to secure investor capital, it’s definitely an involved endeavor. In fact, many people decide not to follow through with it because they don’t know how to finance such a large purchase upfront. That’s where small business loans come in.
In the past, people have traditionally gone with standard business acquisition loans like a SBA 7(A), but in today’s modern market there are other options to consider that may work better for your needs. Enter Pawngo. Pawngo is a tried and true online pawn shop that offers financing in exchange for luxury goods. In fact, we were the first certified online service of its kind in the United States. Clients can use their luxury goods as loan collateral to borrow anywhere from $500 to $5,000,000 or more from us.
Why Choose a Company Like Pawngo?
Here’s why working with Pawngo to fulfill your business aspirations is more convenient than getting a traditional bank loan:
#1 Quick Turnaround Time
Financing your business loan with Pawngo is quick and easy. You simply have to fill out the quick online form and you’ll receive an initial offer in as little as 24-hours. Accepting that offer is not binding—but if you do accept, you’ll get a pre-paid, overnight FedEx label so we can evaluate your item and give you a final offer. Upon acceptance of our final offer, you’ll get your capital and we’ll set up a monthly payment plan. Once your loan has been paid back in full, you get your luxury item back. It’s as simple as that!
#2 Less Hassle
Overwhelmed with the sheer amount of information the banks or investors need to even start the loan or capital raising process? No need to worry about any of that with Pawngo. All we need is the form, contract, ID, and account information and you’ll receive an ACH bank transfer just as quickly as you need to finance your business venture.
#3 Use Assets You Already Have
Many people wonder how to finance an existing business with no money, but it’s a snap with Pawngo. We accept a number of luxury goods as collateral. Have a luxury car, high-end watch, diamonds, an Apple Watch, Macbook, or Gucci handbag you’re willing to put up as collateral? That works for us! We’ll evaluate your loan amount based on the number and type(s) of item that you send to us.
What are You Waiting For? Try Pawngo Today!
While a traditional business acquisition loan may work for you, it is not the only option. Nor is it the best for every situation. Pawngo wants to see you succeed and because of this, we offer a painless alternative to the traditional small business loan. Contact us today to get the process started.