SBA loans are also easier to secure because they are offered by private lenders, and are not restricted by regulatory constraints that make bankers hesitate to lend to small businesses. The typical private lender offers from $100,000 to $2,000,000 financing (more or less depending on lender).

As a buyer, seller financing should not be overlooked. How much money is seller looking for as a down payment? Will seller finance some of purchase price? Is there another lender involved (like a bank or a former owner)? Is there an assumable loan? What is current balance of each loan business has now? This is an essential area of inquiry if you are trying to save time. Most sellers are unrealistic in early stages of selling their business, even if it is listed with a broker. Sellers usually hope for an all-cash buyer. Most buyer prospects are also unrealistic - buyers are often looking for 100% seller financing! In reality, "average" deal is closer to 30-50% down in cash from buyer with 50-70% financing from seller, SBA, and banks.

Most first-time business buyers need seller financing. Sellers are much more likely to finance buyers they like, regardless of experience. But it can take time for sellers to warm-up to this idea and to a particular buyer prospect. Seller financing is great because it shows that seller believes in business, but most importantly he or she believes that you can run it profitably!

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When you read an article about or for your industry that hits home, do same. Write a letter to editor agreeing or disagreeing with piece or adding some perspective writer didn't mention. Such letters must be timely - submitted within a week, usually, of original distribution of article. They must also be concise - 100-200 words is ideal. As previously explained for testimonials, they should also contain a substantive and interesting reference to what you do.

Some publications select just a few letters for their print edition and publish more at their Web site, while others receive so little feedback that they use just about everything. When you're responding to an article in a high- circulation print magazine or a Web site read by many movers and shakers in your industry, your letter gets distribution to recipients you might not have had access to otherwise.