[Sachip24]

Have someone looking to purchase restaurant from his best friend. They have a management agreement in place already stating he has full liability of all debt and everything that has to do with the business..but because the liquor license takes roughly about 90 days to transfer ownership...(they are about 30 days into it already) so for another 60 days it wont show he legally owns the business. Is there any lender that can fund with the management agreement?

restaurant
40-60k in deposits monthly and its currently only open on Friday,saturdays, and SUndays.
Once he takes over it it will be open everyday and revenue will increase drastically to 100-120k a month easy

direct lenders if this is possible please advise

[Ktolbert85]

Have someone looking to purchase restaurant from his best friend. They have a management agreement in place already stating he has full liability of all debt and everything that has to do with the business..but because the liquor license takes roughly about 90 days to transfer ownership...(they are about 30 days into it already) so for another 60 days it wont show he legally owns the business. Is there any lender that can fund with the management agreement?

restaurant
40-60k in deposits monthly and its currently only open on Friday,saturdays, and SUndays.
Once he takes over it it will be open everyday and revenue will increase drastically to 100-120k a month easy

direct lenders if this is possible please advise

If the agreement clearly states he is liable for all debt the business incurs is the current owner willing to sign under these conditions. We would fund the current owner and put an addendum in the contracts stating when ownership is transferred we will take the advance out of the current owners name and put in in the new owners name.

Kermit Tolbert
Business Developer
Arcarius
Direct (201)484-8548
kermit@arcariusfunding.com