Would a Note buyer purchase the loan we gave for the purchase of a business?

Question

We sold our business to a buyer on contract last February. The buyer has paid on time with no problems. We would like to have all the money now, though. We would like to use a Note Buyer for this, I understand that there would be a cut. When I do a search for Note Buyers I find that they are for mortgages. Do they or another kind, perhaps, purchase these kinds of notes?

Answer 1

I agree with Jerry the bookkeeper - there are definitely buyers out there, but you probably won't like the price.

Answer 2

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Answer 3

There are note buyers out there who are willing to buy notes other than mortgages.



I suggest that you ask your banker for some names. For that matter your bank may be interested in buying the note. After all they are in business to make money.



However, I suspect that after you find out what terms and conditions anyone is willing to offer for the note that you may decide to keep it.



Hope this helps

Jerry-the-bookkeeper

Answer 4

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