Steve wants to sell his business but the bank will not lend the buyer enough money. Between personal savings and the bank loan, the buyer has about 80% of the asking price. Which of the following options would be best for Steve in this situation?

Question

Quizplus · Accepted Answer

Offering to finance the remaining 20% and accepting payments over the next few years would be the best option for Steve in this situation. This would allow the buyer to purchase the business while also allowing Steve to receive the full asking price through payments over time. It is important to ensure that a clear contract and payment plan is put in place before agreeing to finance the remainder of the purchase price.

Steve Wants to Sell His Business but the Bank Will