Hook
More breakout videos from this creator.
How much money to buy a million dollar business? Only $100,000. Yes, you heard that right. And that is only possible because of one specific type of loan called an SBA loan. Here's how it works. Obviously, you have to apply for it first to qualify. You need a real down payment, decent credit, and some relevant experience. After approval for the SBA loan, the government guarantees about 75% of the total loan to the bank. And here comes the business's own profit pays off that loan. And you keep the difference. So just for a $100k investment, you get to earn from a $1M business. By the way, if you combine your SBA loan with seller financing, your down payment could drop even more. Sometimes as little as 5%. We explain seller financing next. So follow for more.