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I'm wondering what percentage or total amount, banks are loaning people to buy an already in existence small business.
For example, if you go to bank with say $100,000, how much would they loan you. Are we talking 50/50 or is it more 40/60, so on.
What I'm driving at is two fold. If you had 100K and wanted to buy a 300K business would they back you? Or, if you had 100K, what would they ultimately lend you so you would know what price point of a business you could target. Person for this has great credit, does not own a house and make's $70K plus per year in their day job.
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