Promissory Note – Business Broker Terms – Free Consult

In a construction business transaction in Orlando, Florida, a Business Broker facilitated the use of a promissory note as part of the deal structure. The buyer, unable to pay the full purchase price upfront, signed this promissory note which acknowledged the debt owed to the seller. The note detailed the amount to be paid, set specific payment dates, and outlined an agreed-upon interest rate. This arrangement allowed the buyer to manage cash flow effectively while providing the seller with a legally binding promise of payment, ensuring security and clarity for both parties. This allowed the Seller to get a price above the business valuation she got back when she was considering "Should I sell my business?"