I turned down a promotion, so the owner is selling the business

[the spindoctor]

I don't know whether to be flattered or pissed.

[LANTIRN]

Sounds like an svo story.

[dcs13]

Buy the business ... (if its worth it). You people really need to learn to make lemonade.

[the spindoctor]

Buy the business ... (if its worth it). You people really need to learn to make lemonade.

Lol, I'm a couple million dollars short, but I know what you mean. If the guy wasn't such a cheap theiving bastard I wouldn't mind running the place for him again.

[dcs13]

Lol, I'm a couple million dollars short,

SBA loans. They give preference to women and minorities though..

[1carcrazyguy]

That is what banks are for! Go talk to your banker. The only way to get ahead is to invest in yourself. Think about it. If you are the main person in charge of running the day to day operations. Why would you not want to be the owner?

[SMKR]

SBA loans. They give preference to women and minorities though..

he Associated PressJul 28, 2015, 2:54 PM

NEW YORK —*Small businesses are again able to get loans backed by the federal government.

President Barack Obama signed into law a bill Tuesday raising the lending authority for the Small Business Administration's biggest loan program, known as the 7(a) program. Loan approvals resumed after going on hold Thursday, when the SBA reached its $18.75 billion annual limit for loan guarantees.

The bill, which won final passage by the House on Monday, raises the lending limit to $23.5 billion.

The SBA reached its annual limit with more than two months left in the government's fiscal year. The agency has had an influx of applications because owners are willing to take on more risks including loans after cutting back during the recession and its aftermath. Last year, the SBA didn't approach the limit until September, but Congress raised the ceiling before it was reached.

With the bill's signing, the SBA resumed loan approvals, said SBA spokesman Terry Sutherland. The agency guarantees loans by banks and other lenders.

Owners use 7(a) loans to buy and operate companies and purchase and improve property and equipment.

The SBA's 504 loan program, which backs loans to buy or develop property including real estate, wasn't on hold. Nor was the SBA Microloan Program, which provides loans up to $50,000, or SBA disaster loans. Funding for those loans is separate from the 7(a) program.

[slow99]

Chooooo$$$$$$ chooooo$$$$$$$

[svauto-erotic855]

What kind of business are/were you in? The owner selling the business doesn't mean that the new owners have no use for you. You may be critical to their success and you may be able to demand more money from them.

[chronical]

Checkmate

[the spindoctor]

What kind of business are/were you in? The owner selling the business doesn't mean that the new owners have no use for you. You may be critical to their success and you may be able to demand more money from them.

Its a small machine shop, lots of manual lathe work.

[soap]

Last time I got a promotion it only last 30 days. Lol

[Tyrone Biggums]

Svo turned it down first.

[cool cat]

Little miss little miss can't be wrong...

[YALE]

Pay him for the physical assets. Change the name so it's yours. If he won't go for that, make a business plan and get some money to get a new rival company off the ground. Who cares if he's selling the business? Give him as close to nothing as possible. You're the one that knows how to run it.