We have an opportunity to buy an automotive related business. Buying it from someone who is a long time friend, a business associate, and who is retiring. This is the opportunity of a lifetime for us - on that will never come this way again.
I've got profit/loss statements, inventory/assets, tax info, etc., from the past 7 years. Basically, he gave me everything he thought I would need to get financial backing. Assets are significant but there is no real estate. Actually, maybe that's a good thing.
So, exactly how do I go about financing a business? I don't even know where to go for this type of thing. Do I just go down to a local bank? I would need to buy the assets and would need a line of credit in addition.
Oh Mighty Pelicans, please pour forth your knowledge!
angela