2 months agoThe golden ticket to buy a small business has always been a Small Business Administration 7(a) loan. But thanks to a recent and overlooked rule change, it just got even better, giving ambitious entrepreneurs a chance to build a diversified collection of small businesses–their own baby Berkshire Hathaways.
The 7(a) program was established in the same law that created the Small Business Administration (SBA) in 1953. The SBA provides a 75% guarantee on these loans, reducing the risk for lenders and thereby encouraging them to fund small businesses. The money can be used for working capital, equipment, real estate, or even to buy a business. Read more at the link in the bio.