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As part of our service to the buyer, we help:
- Determine what type of opportunity is suitable for you
- Present the available opportunities to you
- Provide information and answer your questions
- Navigate the way to a closed transaction
No fees are charged to the buyer.
Although some individuals prefer the challenge of starting their business from the ground up purchasing an established business is often a sensible alternative. An existing business is likely to include many of these amenities: name recognition, a customer base, a revenue stream, the fixtures, furniture and equipment needed to operate the business and finally a track record when seeking financing.
FNBCIowa can provide important items to qualified buyers in a timely professionally presented business presentation.. We will have all the pertinent information from tax returns, equipment listings property leases and any other pertinent information to serious buyers. FNBCIowa can also assist in making introduction to accounting and legal professionals in Eastern Iowa.
First National Business Corporation of Iowa has a proven program to help buyers obtain financing. Typically the buyer will need to supply 25% of the purchase price. FNBCIowa will work on the loan package for the serious buyer and will present the financing request to various banking institution for financing options.
Buying Process of FNBCIowa.
- Make an Appointment
Contact FNBCIowa today so you can visit our office and together we can determine your business goals and explore the possibilities of owning your own business.
- Narrow the Scope
Once your business goals are determined we can narrow the scope of your search and match your interests with businesses we have listed for sale.
- Qualifying the Buyer
FNBCIowa will determine if the buyer has the financial resources and background experiences available to purchase the business they are interested in.
Before any information is given out concerning businesses listed through FNBCIowa, a signed non-disclosure agreement must be executed.
After the non-disclosure agreement has been signed, your broker will discuss with you information concerning location, sale price, annual sales, profit and loss statements, tax returns, leases, employees etc. Presentations using Microsoft PowerPoint that include such information and digital pictures of each business are available for viewing at FNBCIowa. This information will help you evaluate each particular business.
- Business Tour
Upon request, a date and time can be arranged to tour the business you are interested in. Tours will include yourself, the broker, and the business owner so all questions can be answered at that time.
Once you decide to make an offer your broker will assist you in determining what the offers include. A written offer will be drafted and presented to the seller by the broker. All future negotiation will be conducted by the broker through the buyer and seller.
FNBCIowa will work with you on various financing alternative and structures as you.
After the offer is accepted by the seller both parties, buyer and seller will be in contact with the broker until all preparations are made for closing. These preparations include obtaining financing.
A mutually agreed upon date is determined. Usually present at the closing is the buyer and their attorney, seller and their attorney, the business broker and the banker.