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Personal Credit Worthiness, purchasing existing business?

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  • Personal Credit Worthiness, purchasing existing business?

    I would like to purchase the shop I currently manage.
    I have most of the information regarding the companies
    financials. But I lack the big money required to purchase
    this company out-right. The company could be making
    3-5 times the profit if someone that was "hungry" is
    running the business.

    How much emphasis is placed on personal credit worthiness
    when purchasing an existing business?

  • #2
    Depends on what you are buying- is there real estate, product inventory and goodwill? But personal credit worthiness matters but how much it matters depends on what you are buying.

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