Our partnership with some of the largest small business finance organizations in the world marks a significant step forward in the ease with which serious buyers and sellers can experience pre-qualifying for SBA, or other small business loans
San Francisco, CA (PRWEB) January 3, 2008
BizBuySell partnered with Comerica Incorporated and other leading small business financial services institutions to launch the feature, which gives buyers and sellers easier access to pre-qualification for SBA (U.S. Small Business Administration) loans. Potential small business buyers and small business sellers can visit the Financing page on the BizBuySell Web site and begin the loan pre-qualification process according to their needs.
"Our partnership with some of the largest small business finance organizations in the world marks a significant step forward in the ease with which serious buyers and sellers can experience pre-qualifying for SBA, or other small business loans," said Mike Handelsman, General Manager of BizBuySell. "Using BizBuySell's new Lending Center can greatly accelerate the buying or selling process."
The feature can help create a more efficient small business marketplace in which qualified and serious small business buyers and sellers identify themselves by opting into a process of SBA pre-qualification. As a result, successful deals can close more easily and frequently.
Those looking to buy a business can use the Lending Center to begin the pre-qualification process for an SBA loan up to a specific amount, and get a better sense of how much they can afford in a business purchase.
The feature allows small business buyers to show business owners that they are serious about purchasing a business and willing to do the legwork of being pre-qualified, assuring sellers of their legitimacy and ability to finance a deal.
BizBuySell users listing a business for sale can benefit from loan pre-qualification by making their business more attractive to potential buyers, and lowering the chance that they will have to provide seller-financing to make the deal happen. Seller financing is one of the biggest barriers preventing small business transactions from closing.
SBA pre-qualified sellers can provide buyers with assurance of legitimacy surrounding financials, as well as assist buyers in obtaining financing more easily.
The loan center also helps borrowers prepare for the application process by outlining SBA loan requirements, explaining how SBA lending works and specifying what lenders look for.
BizBuySell is the Internet's largest and most heavily trafficked business for sale marketplace, with more business for sale listings, more unique users, and more search activity than any other service. BizBuySell currently has an inventory of over 50,000 businesses for sale, and more than 675,000 monthly visits. BizBuySell also has one of the largest databases of sale comparables for recently sold businesses and one of the industry's leading franchise directories. BizBuySell was founded in 1996 and acquired by LoopNet, Inc. in 2004. LoopNet operates the largest commercial real estate listing service online, with more than $425 billion of property listed for sale and 3.7 billion square feet of space for lease. With over 2.4 million registered visitors, LoopNet attracts the Internet's largest community of commercial real estate professionals. Please visit http://www.bizbuysell.com.
Comerica Incorporated (NYSE: CMA) is a financial services company strategically aligned into three major business segments: the Business Bank, the Retail Bank, and Wealth & Institutional Management. Comerica focuses on relationships and helping businesses and people to be successful. Comerica Bank locations can be found in Michigan, California, Texas, Arizona and Florida, with select businesses operating in several other states, and Canada and Mexico. Comerica reported total assets of $58.6 billion at June 30, 2007. Please visit http://www.comerica.com.