Selling your business requires careful preparation, valuation, negotiation, and due diligence. Follow this 10-step checklist for selling a business, from deciding when to sell and finding the right broker to reviewing the LOI, preparing for buyer due diligence, negotiating the purchase agreement, and completing a successful closing and ownership transfer.

Selling a business with an SBA EIDL loan comes with challenges, especially if the sale proceeds won’t fully cover the loan balance. Navigating SBA requirements can take months, so preparation is key.