Debt Financing for Website Aquisition

I'm writing on behalf of a colleague that runs a website seeking to buy out his biggest competitor. He needs $300k in financing and is hoping to close quickly (by the end of the month).

Here are the terms that he was hoping for:
"$300k loan, ideally closing before the end of the month, with a 24 month long payback period that allows for interest only payments (with lump sum payment of $300k at the end). Interest rate between 10-15% (ideally as low as possible, but this seems like the market rate for these kinds of deals). We'd put (up to) the entire asset we're acquiring up for collateral. All US based businesses, we're based in Florida, the business we're acquiring in Maine."

He is looking for private investors that might be interested in making a private party loan, but I'm not sure if that is the best financing route. Any advice for my friend?