Why The SBA 7(a) Loan Program Is The Best Financing Option To Acquire An Existing Business

One of the most popular ways to become a business owner is to acquire an existing business.  And the easiest way to qualify for financing is through the SBA 7a program. Before I highlight the advantages of the 7a program, I’d first like to raise the point that acquiring an existing business is not always the best route to becoming a business owner.  In some cases it makes better financial sense to start a new business rather than acquiring an existing one. Here’s the test I like to apply.  If you’re able to start a new business with similar or less capital requirements, and ramp up revenue and profitability within two years from opening, it’s likely best to start a new business. If this is not the case, you can confidently focus all your attention on finding the right business to acquire. If you liked this content, let's connect on social media: Instagram: ⁠⁠https://instagram.com/mysbapro ⁠⁠ Twitter: ⁠⁠https://twitter.com/mysbapro⁠⁠ LinkedIn: ⁠⁠https://linkedin.com/in/ryanpatryck⁠⁠ More ThinkSBA Resources ⁠⁠⁠https://calendly.com/thinksba⁠⁠ - Schedule Call ⁠⁠https://g.page/thinksba⁠⁠ - Google Business Page & Reviews ⁠⁠https://thinksba.com/faq⁠⁠ - Frequently Asked Questions ⁠⁠https://mysbaloanpro.com⁠⁠⁠ - My SBA Loan Pro Podcast ⁠⁠https://youtube.com/@thinksba⁠⁠ - YouTube Channel