St Joseph Hospital: Buying A Small Business

Thursday, 6 December 2012

Buying A Small Business

“Our criteria was a manufacturing company with a good reputation and growth potential that had been ignored,” Ms. Jamerson said. “Aluminum Case Company had a large and varied customer base, a unique product niche, a good reputation and capacity for huge growth. They had no Web presence and had not automated their engineering or equipment, so we felt we could make a quick impact on sales.”What did not happen quickly was persuading a bank to help them finance the deal. “We were discouraged at how little funding our regular bank — and a few others — were willing to lend,” Ms. Jamerson said. She did a Google search on the keyword term “financing your business” and found of Bellevue, Wash. — a company that specializes in self-directed I.R.A.’s and alternative small-business financing.“Our criteria was a manufacturing company with a good reputation and growth potential that had been ignored,” Ms. Jamerson said. “Aluminum Case Company had a large and varied customer base, a unique product niche, a good reputation and capacity for huge growth. They had no Web presence and had not automated their engineering or equipment, so we felt we could make a quick impact on sales.”What did not happen quickly was persuading a bank to help them finance the deal. “We were discouraged at how little funding our regular bank — and a few others — were willing to lend,” Ms. Jamerson said. She did a Google search on the keyword term “financing your business” and found of Bellevue, Wash. — a company that specializes in self-directed I.R.A.’s and alternative small-business financing.