I'm currently trying to buy a business that has been established for 11 years. I need $55,000 for it (the owners are asking $69,500, includes equipment, inventory, three-year lease in an excellent location), and am looking for any suggestions on ways to obtain the financing. Yearly profit averaged over the last three years (after the owner paid herself) is $25,000. I can most likely get the loan from a bank, but they require a business plan, and being on a short time schedule I'm trying to find a way to get the financing before I've finished the plan. I don't own a home, the vehicles I have would help little when it comes to collateral, and I have limited credit (two loans less than a year old, one to be paid off within the month). Any suggestions would be greatly appreciated, thanks!

Business Plan is a must!
You can either go to your local bank (SBA or non-SBA loan) or find an angel investor. Both will want you to have a business plan. If you cant pay someone to write one for you, take out a day spend $99 bucks on "Business plan pro 2006" and use the express options.

I have tons of sample business plans. If you want PM me the kind or business and if i have something you are welcome to it!

Thanks, Naj