[FSB]

Our client is attempting to purchase (2) small assisted living facilities located on California. The facility consists of (2) six bed homes that are at full capacity. The purchase terms are $215,000.00 upfront, with the remaining $60,000.00 due in (12) months. Our client has $150,000.00 in cash to put down on the purchase and it requesting a loan $75,000.00. At the present time, the land in not part of the purchase.

BACKGROUND

The client is originally from Pakistan and has a medical degree from that country and also finished medical school in China with a specialization in geriatric medicine. There is a two-step process to obtaining his medical degree in the United States. He has already passed step one and the second exam is in December, 2017. His goal is to specialize in geriatric medicine and integrate his medical practice with his assisted-living facilities to offer round-the-clock and full circle care. His eventual goal is to continue opening additional facilities in the future.

He is working with advisers who have owned and operated similar assisted-living facilities in Southern California for over 10 years. The facilities he is purchasing is fully functional and consists of two houses with six beds each, all currently at full capacity. There is a lot of room for expansion down the road. There is a conditional use permit on both facilities and the lease agreement is valid until 2021, with two 5-year extension options.

P/L for 2015, 2016 and MTD 2017 are available. The 2017 P/L MTD shows net income of $84,000.00.

Startup in living expenses will be financed by his wife who currently earns $100,000 a year and will be making partner at her firm and will be a co-signer on the application and contract. Employment information on the wife is available.

The client has a credit score of 716 and he will have a 100% interest in the new corporation.

Direct Lenders Please.

Howie Dane
Funding Sources for Business
(847) 831-4118

president@fundingsourcesforbusiness.com

[Jstarr]

emailed you - this is easy.