I am purchasing a small business that has been in existence for 1 and a half years. I am using an SBA loan for the purchase.
Referring to the future, how do they determine what my business line of credit will be? My companies net profits are 160k. (After debt payment it is around 110k). Formulas are welcome!
they need to see tax returns, bank statements, and they will need to find out what you will use need the money for. they might even ask for a business plan.
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