¹ Terms subject to credit approval upon completion of an application. Loan sizes, interest rates, and loan terms vary based on the applicant's credit profile. Finance amount may vary depending on the applicant's state of residence.
² BHG Money business loans typically range from $20,000 to $250,000; however, well-qualified borrowers may be eligible for business loans up to $500,000.
³ This is not a guaranteed offer of credit and is subject to credit approval.
Testimonial(s) based on unique customer experience. Individual customer experiences may vary.
For California Residents: BHG Money loans made or arranged pursuant to a California Financing Law license - Number 603G493.
IMPORTANT INFORMATION ABOUT ESTABLISHING A NEW CUSTOMER RELATIONSHIP
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies every customer. What this means for you: When you apply for a loan, we will ask for your name, address, date of birth, social security number and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents. If all required documentation is not provided, we may be unable to establish a customer relationship with you.
WAYS TO USE YOUR LOAN
Finance all or part of your partner buyout with one large, affordable solution
BHG Money provides premium loans to serve the goals of the country’s top professionals, like you. With financing up to $500,000,1,2 your goal of buying your partner’s share of the business is within reach.
Every partnership buyout is unique. You can rest assured that we’ll provide you with a tailored solution that helps you take advantage of our flexible repayment terms and low monthly payments.
Types of buyouts you can finance
- Your partner is retiring
- Your partner has passed away
- Your partner is leaving for a new business
- You want to engage in a buyout as a non-partner
HELPFUL THINGS TO KEEP IN MIND
Factors to consider before buying out a partner
Whether your business partner is preparing for retirement or looking to leave the company to pursue new ventures, you must take certain steps to reach a favorable agreement and ensure the future success of your business.
The valuation of your business
Agreeing on the valuation of the company is the first step of any partnership buyout. You and your partner can perform separate valuations of the business, leveraging your company’s historical data.
An important factor to consider when conducting your valuation of the business is the value brought by the selling partner. If your partner is an integral piece of a successful operation, their departure could impact the revenue of the business—and the overall buyout price.
Note: It’s recommended to seek third-party assistance to complete your partnership buyout.
Coming to terms on your buyout
The agreement made at the formation of the partnership may already specify the terms of a buyout. Nevertheless, it’s recommended to seek legal counsel in order to ensure a smooth transition of ownership.
An experienced lawyer can help you and your partner navigate any applicable state requirements as well as prepare documentation that clearly outlines responsibilities and expectations for the future, namely:
- A non-compete agreement
- A partnership release agreement
In tandem with working out a deal with your partner, you should be actively exploring your financing options so that you’re able to promptly secure funding for your buyout.
"I have done business with BHG in the past. They are attentive to my needs and provide unique funding options that are very beneficial to me as a borrower."
- Anthony Ricciuti
BUSINESS LOAN FEATURES
Premium financing for elite professionals
We offer a unique combination of large loan amounts and extended repayment terms,1 providing you with affordable monthly payments. You’ll also experience a simplified lending process with dedicated concierge service.
