Businesses come in all shapes and sizes, the same applies to business notes. When it comes to purchasing a business note we have two requirements
before we will consider evaluating the cash value:

• the payor must have 50% equity
• and the balance of the note must be no less than $50,000.

If your believe you have a solid business note to sell but the equity or note balance doesn’t quite fit our requirements we still encourage you to submit the note for a quote because we have made exceptions in the past.

Once we’ve established interest in the note and provide you with a quote, closing is much simpler than that of a real estate note. We’ll start with a basic checklist of documents that we’ll need to close and instructions on securing any documentation that’s either missing or was not addressed at the original closing.

On all business notes it’s important we know the following information before we can evaluate the risk of the note and make a cash offer:

1. Is the building owned or leased?If Leased, what is the lease term and extension term?
2. What experience does the payor have in this type of business?
3. Annual gross revenues?
4. Annual expenses?
5. Annual net revenue?
6. Name of business, address and years in existence?
7. Is the note personally guaranteed?

(We need this information on all business note submissions without exception.)