banks) as well as Internet businesses, wholesalers and home-based businesses. It will be just you and your money, and you can decide what to do with it. Although buying an existing dental practice has a low risk for the buyer, it is not entirely without risk. Buying an existing bank is preferable since it saves you a lot of time and money, establishing a brand name. Bank Formation: BP Design, Application, Licensing, Intermediary Accounts, Compliance, Auditing, Banking Relations, etc. The biggest benefit of buying an existing business is that the company is already in operation. We are here to partner with you with you in this new opportunity. Say goodbye to application fees and wait in lines to determine whether you qualify for a specific interest rate. If present interest rates are at 7% and a seller has a 5% fixed interest rate, that 2% variance can make a huge difference in the buyer's monthly payment. You can quickly and easily build your wealth, such as giving out loans, and people have to pay with interest. Because an existing business already has a track record of success, it’s often easier to get funding for this type of investment than for a brand-new startup. These two questions should be running through your mind when looking for new investment. The best loan to buy an existing business for most people is an SBA loan. It is important to understand: ... Bank of America may prohibit use of an account to pay off or pay down another Bank of America account. This is because SBA loan rates are some of the lowest, plus you can get some of the longest repayment terms (10 to 25 years). Financial Licensing Advisors that will help walk you through each part of the application stage. This material is for information purposes only. Correspondent and Intermediary Banking: Easy setup of Intermediary Bank Accounts and SWIFT or other related intermediary services through our network of banking partners. The difference in cost between building a new home and buying an existing one depends on a whole host of factors. You also need a team of experts whom you must pay and equipment required for the bank to run smoothly. At times, privately-owned banks are sold when the owner wants to move to other investments or has no money to continue running the business. Correct Auditing and CRS is also covered; we have major relations with the top Compliance and Auditing Firms in the region where your institution will be located. If you want to buy a bank, such websites will make it easy for you—they only deal with registered banks. Just like the “rent versus buy” conundrum, the cost of building versus buying depends on a number of factors – some of which are beyond our control. Also, the costs involved in buying an existing business can be substantial and should not be underestimated. Since 2003, Healy Consultants Group PLC assists our multi-national Clients’ to i)purchase existing banks in every country on the planet or ii)register a new bank in specific jurisdictions. Regulatory requirements in the... Is a Community Bank Worth Buying? You need to protect yourself when buying a business. How Much Money Is Needed To Buy An American Bank? There’s plenty of value built into our services, because they are the kind of services that are required not only to obtain the license, but to manage a successful financial business in the long term! Susquehanna's David Hilder says certain principles govern bank M&A, and thinks JPMorgan could buy SunTrust in 2011. This presentation is not being used to provide investment or other advice, and nothing on it is to be deemed a recommendation that you buy, sell or hold any security or other investment or that you pursue any investment in any way. Organizing such campaigns will cost you a lot of money. You will not disclose any of this information to any person or use it for any purpose other than those strictly permitted by us, in writing. Purchasing a  bank comes with significant benefits since the banks infrastructure and brand will be there. However, note that it’s essential for you to make smart decisions for your hard-earned wealth. If you are considering the purchase of an existing business, remember that Federated Bank has a range of lending options. This can include having meetings with authorities, associations and everyone involved in the licensing process. You will need a board of directors to help you complete the requirement. Buying an existing business is no small task - it will require dedication and commitment in both the research and running of the business to ensure you make a profit. Then the responsible thinker inside them tells them to save money, get more experience, and do it the right way. You can now put your money in control and choose where to transfer it. Today's ability to generate internet... How does one purchase a bank? When you visit such a company, you will have a team of experts to guide you and help you close the deal. Financial Licensing Advisors will help and walk with you along the way in the application stage, having meetings with authorities, associations and everyone involved in the licensing process. As a bank owner, it will be easy for you to implement financial strategy, which helps you leverage permanent life insurance and put you in control of your money. Yes, In general, it's simpler to acquire an existing bank with all licenses and permits already approved. Although we are also highly recognized in the Investment Banking Sector for buying or selling financial institutions worldwide (and can help you buy a bank) , we specialize in obtaining the financial licenses you need. If you get it right, there are many good reasons why buying an existing business makes good business sense. Trust Formation: Trust Management Firms, Sole Trusts, Licensing, etc. When you buy a new car and finance it, you legally own your car, your name is on the title and registration, but maybe this slipped your mind: the bank is holding the title in their possession! As a must they should have a sound correspondent banking system (with banks, not with EMI's). Contrary to any other industry, the owner, even with 100 percent ownership, cannot automatically control the management of his bank. While buying an existing business typically involves more upfront cost, ... you could take out a term loan to purchase the business through a traditional bank or an online alternative lender. Some of the many types of help we can offer you include: Some of the licensing related tasks we can assist you with include: We also offer help with Bank and Financial Institution Takeovers, Purchase and Stock Placement of Financial Institution, Banking Software and IT Support, Internal Intranet Software, and Server Deployment Services in Compliance with Financial Standards. Finance for buying an existing business is treated differently from finance to start a business. Financial Licensing Advisors ™ reserves the right to change, modify, add or remove portions of any content in this presentation at any time without notice and without liability. All information available on this presentation is confidential and proprietary to us. Before clients start trusting you, it takes much of your time and effort. Only deposit products offered by Northwest Bank are Member FDIC. What is the history of the business, including the background of founders and key management? Interest rates and fees are subject to change. Buying an existing bank is preferable since it saves you a lot of time and money, establishing a brand name. How to get a bank loan and buy a business Here are some things to consider if you think you might need to borrow money from a bank to fund your business purchase If you're thinking of buying a business, unless you have enough money saved to cover it, it’s likely you’ll need to speak to a business banker and borrow money to finance your purchase. You can negotiate the terms and chose a bank that meets your needs. King Palace Plaza 55 King Yip Street Suite C8F, Kwun Tong Kowloon, Hong Kong. This material is for information purposes only. To buy a bank, capital is probably the least important consideration. They also know how to handle the paperwork required by local regulations, licenses, permits, bank financing, and escrow. Before buying Brighton, Brown had lined up an agreement to buy an unnamed bank with operations in North Carolina, South Carolina and Virginia, American Banker reported. You acknowledge that the content of this presentation is for general, informational purposes only and is not intended to constitute an offer to sell or buy any securities or promise to undertake or solicit business, may not be relied upon in connection with any offer or sale of securities. Is buying an existing bank preferable? Many of the kinks and early startup decisions, such as the site’s location, have already been worked out or decided. Credit Union Formation: BP Design, Application, Licensing, Intermediary Accounts, Compliance, Auditing, Banking Relations, etc. Accounting, tax or legal advice is specific to each circumstance thus you should consult with your own advisors with respect to your individual circumstances and needs. An existing fully operational bank in the UK with a history for sale! Starting a business from scratch can be challenging. Is buying an existing ad bank preferable. In some of these transactions, the private seller may still owe money on the loan originally used to purchase the vehicle. Please contact us at: info@bankinglicensing.com. We have a team of experts devoted to making sure you make a successful deal, and you are satisfied. We know the difficulties and challenges related with obtaining any type of financial license, and we are here to help you. Set up a new bank or purchase an existing bank. Assistance and advice from a team of Legal and Financial Advisors at your service. We have compiled this presentation in good faith and while we use reasonable efforts to include accurate and up-to-date information on this presentation the presentation is provided on an "as is" basis with no warranties of any kind. You will need flexibility policy, allowing you to do whatever you want with your money. Correct Auditing and CRS: This is also covered, because we have major relations with the top Compliance and Auditing Firms in the region where your institution will be located. Money is one of the biggest concerns of a budding entrepreneur. We are everything you’ll ever need, we have a team of Legal and Financial Advisors at your serve, no need of expensive lawyers, accountants and relationship managers, FLA is all you need and is there just for you. 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