Obtaining loan to buy existing business outside of my field
by anoninnyc - 7/13/13 9:31 AM
I currently working in the Staffing industry. I'm managing a team of salespeople who prospect for new business, and a team of recruiters who find candidates to match said job orders. Staffing, as many know, is a B2B business.
My question is this:
I'm looking to BUY a small to mid-size business, but I'm looking OUTSIDE the realm of the Staffing industry, into other B2B opportunities.
Given that I only have experience (albeit significant experience)in one type of B2B industry (staffing), how easy would it be to obtain a loan to buy a pre-existing business situated in a different B2B industry?
I'm looking to purchase a business in the field of Web Analytics for online businesses, or wholesale to small business, etc..
Do you think I'd have a shot at getting financial aid to purchase one of these B2B businesses outside my specialty?
1. Do I have a shot at financing from a typical commercial bank? (y/n)
2. Do I have a shot at from seller financing? (Y/N)