All Business Purchase With Sba Loan In Maricopa
Category:
State:
Multi-State
County:
Maricopa
Control #:
US-00059
Format:
Word;
Rich Text
Instant download
Description
The document is a Management Agreement and Option to Purchase, specifically tailored for business purchases with SBA loans in Maricopa. It establishes the terms under which a manager is retained to operate the business while providing the option to purchase its assets. Key features include the duration of the management term, calculation of net income for compensation, and procedures for necessary repairs. A significant component is the option to purchase provisions, outlining terms for notifying and completing the purchase of business assets, which is crucial for potential buyers. Filling out this form requires clear identification of involved parties and detailed financial terms, ensuring transparency. Target audiences such as attorneys, partners, owners, associates, paralegals, and legal assistants will find this form useful for facilitating business transactions and ensuring compliance with legal stipulations while securing financing options. Additionally, this agreement aids in clarifying roles and responsibilities, thereby minimizing disputes during the business operation and potential purchase.
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FAQ
Individuals who own 20% or more of a small business applicant must provide an unlimited personal guaranty. SBA Lenders may use this form.
How to fill out SBA form 413 Provide basic business information. Report your assets. Report your liabilities. List your source of income and contingent liabilities to complete section 1. Detail your notes payable to banks and others in section 2. Detail the status of your stocks and bonds for section 3.
How to buy an existing business Identify the type of business you want to buy. Look for businesses on sale. Consult with experts. Conduct due diligence. Assess the value of the business. Issue a letter of intent. Secure financing. Review the required documentation for the deal.