Given your situation, here are some options to consider for buying out your business partner:

### 1. **Bank Loan:**
- **Pros:** Potentially lower interest rates than private investors; no dilution of equity.
- **Cons:** Requires good credit and solid financials; adds debt to your business; regular repayments could impact cash flow.
- **Steps:**
- Prepare a detailed business plan and financial projections.
- Approach banks and financial institutions to discuss loan options.
- Compare interest rates, repayment terms, and any associated fees.

### 2. **Private Investor:**
- **Pros:** No debt repayment pressure; potential for strategic advice and connections.
- **Cons:** Dilution of equity; potential for loss of control or influence in the business.
- **Steps:**
- Identify potential investors interested in your industry.
- Prepare a compelling pitch and detailed business plan.
- Negotiate terms that align with your long-term goals and vision.

### 3. **Combination of Both:**
- **Pros:** Spreads the financial burden; reduces dilution of equity.
- **Cons:** More complex to manage multiple financing sources.
- **Steps:**
- Assess how much you can comfortably borrow from a bank.
- Seek an investor for the remaining amount needed.
- Ensure both sources align with your business strategy and financial health.

### Considerations:
1. **Business Valuation:** Ensure your business valuation is current and accurately reflects your company's worth. A professional valuation might be necessary.
2. **Legal and Financial Advice:** Consult with legal and financial advisors to understand the implications of each option and to structure the deal appropriately.
3. **Partner Buyout Agreement:** Draft a clear buyout agreement outlining terms and conditions to avoid future disputes.
4. **Impact on Business:** Evaluate how each option affects your business’s operations, control, and future growth.

### Immediate Steps:
1. **Update Financials:** Ensure all your financial statements are up-to-date and accurately reflect the business's performance.
2. **Business Plan:** Create a comprehensive business plan highlighting the company's growth potential, financial health, and strategic vision.
3. **Consult Advisors:** Speak with financial and legal advisors to discuss the best financing options and understand the implications.
4. **Explore Options:** Start discussions with banks and potential investors to gauge interest and terms.

If you have any specific preferences or constraints, such as a preference for maintaining control over the business or avoiding debt, let me know so I can tailor the advice further.