Business Promissory Note

Business Promissory Note

by Richard C. Wilson & Family Offices Group Association Team

Family Office Definition: Business Promissory Note

Business Promissory Note definition:  A business promissory note is a loan contract to sell a business.  When lending conditions are tight or financing is difficult to obtain from traditional banks, seller financing is an exit strategy option to sell with a written business promissory note between the two parties.

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