Partnership Buy-In Financing
Planning on expanding your business with a new partner? Let Heritage Bank NA help with buy-in financing! Your new partner can become a full partner right away. Working with Heritage Bank can simplify the entire process and provide liquidity to support your business growth.
Let Heritage Bank finance your new partner’s entire buy-in amount.
- 100% Financing
- No Partner Collateral Needed
- No Down Payment Needed
Listen to Interview
Ross Magnuson, Market President of Heritage Bank, answers questions about our Partnership Buy-In / Buy-Out Program. This discussion includes the following:
- Questions to ask people looking to form a partnership buy-in agreement.
- How new partners finance their partnership buy-in agreements
- What the partnership buyout process looks like
- How a partnership buy-in loan is structured
- What a partnership buy-in formula is
- Our business relationship manager’s knowledge in structuring a partnership buy-in
- Alternatives to a partnership buyout
- Requirements concerning an updated partnership agreement
- Minimum or maximum dollar amounts financed
- Financing a partner that is already internally financed
- The benefits of financing your partnership buy-in with Heritage Bank NA
Listen now to: Partnership Buy-in / Buy-Out Discussion or Download Transcript
Heritage Bank Partnership Buy-in Program is For:
- Medical Practices
- Dental Practices
- Law Firms
- Financial Planners
- Accounting Practices
- Funeral Homes
Requirements and Specifications
- A business valuation
- Corporate guarantee requirement for any partner debt
- Documented Buy-Sell Agreement required depending on transaction type (funded by life insurance when appropriate)
- Life insurance requirement for partner debt in the amount of the loan with assignment to Heritage Bank NA
- Maximum loan term: 10 year
- Years in business: 3 Minimum
Partnership Buy-In and Buy-Out Financing
If a partner is retiring or being bought out or if you are adding a new partner, funds can be readily available to facilitate any pay-out. Your loan can also be guaranteed by your business.
Heritage Bank can finance up to 100 percent of a new partner buy-in without requiring any down payment or collateral from the new partner. We can also refinance any current partners in your business who might still be making monthly or quarterly payments.
Let Heritage Bank help you develop a partnership agreement to ensure all aspects of the Partnership Buy-In are arranged appropriately and clear to all. Let’s get started today!
Important Information
Procedures for Opening an Account
Mandated by the USA PATRIOT ACT
To help the government fight the funding of terrorism and money laundering activities, the USA PATRIOT ACT, a Federal law, requires all financial institutions to obtain, and record information that identifies each person who opens an account.
What this means for you:
When you open an account, we will ask you for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.