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When you buy a business is it typical for the loan to say if you are late 15 days you owe the entire balance in full?
Asked by JLeslie (65446)
June 14th, 2016
from iPhone
It’s a loan from the seller, not a bank. It’s a loan from the seller, not a bank.
I had been under the impression if you default on the loan the seller would get the business back. Like the business is collateral.
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