Can i get a $50k loan using a business sale?

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michael m

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a few months ago i sold my business. i received a downpayment from the buyers, and the rest of the balance of the sale was to be paid to me every month for the next 26 months.

i receive $2,550.00 a month and i am owed 20 more payments.

i was wondering if i could use this to get a $50,000 loan?

what are these loan called and what lenders give out these type of loans?
 
I think the type of loan you want is to be securing by factoring. Talk to your banker, I am sure they will be able to help you get a loan of $50,000. to be secured by those repayments.
 
It's just security for your loan--any number of banks and individuals will make business loans.
 
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