Posted On: August 24, 2026 by Farmers Trust & Savings Bank in: Business Banking
Written by Eric Schable, Commercial Loan Officer
As business owners, we spend years building something we’re proud of. We work long hours, solve problems, celebrate wins, and overcome more challenges than we ever expected.
But here’s a question many business owners don’t ask themselves often enough:
- What’s the plan when it’s time for someone else to take the reins?
Whether retirement is around the corner or still years away, having a succession or ownership transition plan can make all the difference. Think of it like maintaining the roof on your building—you’d rather prepare before the storm than scramble during it.
- More Than Just Retirement
Ownership transitions happen for all kinds of reasons. Maybe you’re ready to retire, a family member wants to continue the business, a key employee is interested in buying in, or an outside buyer sees the value you’ve created.
Whatever the situation, planning ahead gives you more options—and usually better ones.
- Financing Can Help Make It Happen
One common misconception is that a buyer has to come to the table with enough cash to purchase the business outright.
Fortunately, that’s often not the case.
Business acquisition financing can help qualified buyers purchase an existing business, making ownership transitions more realistic and affordable. Financing may also help with partner buyouts, ownership restructuring, or buying out retiring shareholders.
The right financing can help both sides move forward with confidence.
- Starting Early Pays Off
You don’t need to have all the answers today. In fact, the earlier you start planning, the more flexibility you’ll have.
Planning ahead allows time to:
- Understand the value of your business.
- Organize financial records.
- Identify potential successors.
- Explore financing options.
- Create a smoother transition for employees and customers.
Even if your transition is five or ten years away, today’s planning can make tomorrow much less stressful.
Let’s have the conversation
You don’t need a detailed roadmap before talking with your lender. Sometimes the first step is simply asking, “What are my options?”
As a commercial loan officer, I enjoy helping business owners think through these transitions and explore financing solutions that fit their goals. Whether you’re considering retirement, bringing in the next generation, or selling to a longtime employee, we’re here to help you plan for the future.
After all, you’ve invested years building your business. A little planning today can help ensure the next chapter is just as successful as the first.
