BUSINESS NOTES
You started out small and built your business through hard work and sweat equity! Now you are
selling it or have already sold it to a new owner.
In most cases the new owner does not have the entire purchase price. They would love to buy the
business and continue doing what you have done but they just don't have all of the money. Does
this sound familiar?
Most new business owners can't get traditional financing for the full purchase price. The solution
has been for the old owner to carry some of the financing themselves.
If you have done this in the past, or intend to do it in the future, you need to know that the
business note you create can be sold for cash.
Similar to mortgage notes, the business note is secured by chattel property, furniture, fixtures and
equipment. The business note backed by this secured property can provide you with funds now
rather than waiting for the payments monthly.
HOW TO GET STARTED:
If you need cash for your business notes you can start by providing the information on the
Business Note Worksheet and provide us with the copies of the documents listed. You can either
do it online, fax it to us at (757) 877 7606 or mail it to us.
We will review the information with you and evaluate the information. We can then provide you
the funds you need for the business note.
You need to complete the Business Note Worksheet and provide the following information:
- The Uniform Commercial Code Form 1 (UCC1) that lists the chattel property
- The chattel agreement with an attachments listing the equipment
- Confirmation of the down payment amount you received
- Credit history of the business buyer
- Audited financial statements or tax returns
- Appraisals of the collateral on the equipment lists
- Most importantly, what is the amount of money you need from the note and why are you
selling the note?
Much of the documentation requested is already available to you. We can help you locate and
complete the items that are not available such as a current appraisal of the equipment and the
recorded UCC1 and chattel agreements.
Fill out our Client Profile 
If you have any questions or comments feel free to call us or leave us E-mail.
