[Gillat]

hello, I am new to this forum. I am a college student eager to get into some sort of business. I want to buy a business thats already been established. However I have only a small amount of money to put down, below 5000, i have no credit history and my income is very minimal. I wanted to know if there is a way to get a loan against the business I want to purchase or if there is anyway to get a loan without a co-signer. I know there is always owner financing but when i bring it up i usually get shot down. I want to buy something in the $100,000 range. If anyone knows about loans or has been in a similar situation i would really appreciate some information. thanks.

[tekmoney]

Getting a bank loan 5000 down, no credit history, minimal income, and no co-signer... well your chances are next to none. You'd have a hard time getting a 10K car loan.

[Gillat]

i know... its tuff is there anyway to use the financials from the business i want to buy to get a loan?

[akula]

yes, leveraged buy outs are common, however, this is not a strategy recommended for people with undiversified investment portfolios

there are things you can do, to make your self less of a risk for financiers

[Gillat]

do you have any suggestions