Established businesses with tax returns that show good revenues and profitability can get very large sums of funding with Secured Small Business Loans.
If you have business tax returns, you should apply for secured government-backed SBA program loans from $250K up to $12M. SBA offers several programs including 504 and 7a loan programs. SBA programs can be used for many purposes including purchasing a new business, partner buy outs, real estate acquisition, and even working capital.
SBA will require certain documentation to qualify including business and personal financials, resume and background information, personal and business credit reports, a business plan, bank statements, collateral, and other documentation relevant to the transaction.
Approval amounts will vary based on the collateral your business has and the amount of net profit reflected on your tax returns. The total time to close these loans is about 2-4 months.
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