Results 1 to 2 of 2
-
07-23-2014, 11:44 AM #1
- Join Date
- Jul 2014
- Location
- Online
- Posts
- 965
Franchise Deal with a Twist
Here's the deal:
Franchise- 3 Locations... expanding one. Went on a site inspection, met the owner. He wants $150k+ to do the expansion and get started on equipment. Good Credit, Good Balances...
Here's the issue:
1) His Corporation OWNS the CC processing- goes to a lockbox, they get their fees and put it in the biz bank acct.
WE CANNOT get the CC statements but I do have print outs of June and UTD July.
2) JUNE the CC processing company had issues in which nothing was being deposited- I have proof of everything and shouldn't be an issue but he still did $50+ in deposits without his CC being put in
3) and here is the big one- they DO NOT want the funds inputted into their business bank. (womp womp*)
The guy is solid- everything going for him and I don't want to shop (I have an offer that was going to go through- but the different bank will probably kill it). I wanted to put this through hard money or a LOC... Email me if you can assist.
-
07-28-2014, 03:56 PM #2
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
Amanda- would they qualify for an SBA loan?
Similar Threads
-
Need a direct lender that can take Franchise deals
By jimg in forum All Other LendingReplies: 6Last Post: 07-17-2017, 08:51 AM -
Franchise Frenzy
By WhoisKingsley in forum Merchant Cash AdvanceReplies: 3Last Post: 07-17-2014, 12:49 PM