I have a slightly unique situation. Through a personal relationship I was sought out to purchase an existing business from a friend of the family. They know me and want to sell to me because they don't trust anyone else to run the business the way it is meant to be run. Also I have more and better contacts with target customers. Due to this they have given me a great price on the company. Their reason for selling is that the owner and son are moving across the country to be with family and they really don't need the company. Company is locked into my geographic area.
The problem is I need to raise substantial funds to buy the company. I don't want to/ can't offer ownership in the company in exchange for funding bc the current owners don't want to sell to multiple owners. I need to be the only one.
It is an existing business that makes plenty and i can repay the loans in 3-5 years easy. The question is what are some ideas for raising $2 mil on a safe investment without giving away equity. Also if straight up loans are the way to go, what would be a ballpark required ROI for such loans from individuals?