[GeneralFinancialOrlando]

The basic details are as follows :
1) The balance of the loan now is approximately $145,000 (non amortized)
2) There is now an interest rate of 5%
3) Note executed via corporate and personal guarantee.
4) Term remaining: five or six years left. The monthly payment is roughly 3000 per month which includes the interest.
5) The loan is secured by the liquor license which is included in lien/filing/note. The public record shows that this entity is the only one that has a lien on his license.
6) Currently those liquor licenses in FL (Midwest FL) are selling in the $200,000 range - The city is the #1 city for restaraunts, forget the source but "If you can make it in this city, you can make it in any city"
7) Note includes UCC-1 blanket lien on every asset the restaurants (two locations) have which includes all furniture restaurant equipment; big screen TVs, inventory of alcohol and food, restaurant equipment etc. UCC-1 is first position on all of the aforementioned assets
8) The loan is transferable there are no hindrances to me in regards to that
9) There are very favorable trigger points in the loan agreement that allow acceleration and/or foreclosure (Note could currently be called for several violations of the agreement).

Disclaimer: This is a family situation between a family member who loaned money to start the second location; this relationship has soured and borrower refuses to include the lessor in any business decisions or provide financial information.

I believe those Are the basic points of interest. I primiarily engage in originating equipment leases/finances - so this is uncharted territory but I have heard there is a market for this. If someone is interested please post here or give me a call. 866-435-3274 - Lessor is looking to assign the note in exchange for a discounted price - to avoid anymore liability (from a family standpoint).

Thanks,
TM

[Jstarr]

?? Is he looking to refinance the loan or sell the business?

[mcaguru]

to much to read ... i put spirits and liquor into our system and see hundreds of files we funded in that sic code!

[Metromedia]

I will need to know, is he looking for a advance or are you trying to find someone to carry paper to sell it out? If it is a advance and the bank statements and merchant statements look good, I can broker this for you pay you 80% of what I get put it into my network and have this guy funded tomorrow, if not today, contact me and let me know!

[Sachip24]

Which lender gave him term loan using liquor license as collateral? ...Do they own the property the restaurant is on maybe you can just do a commercial cash-out refi if merchant is looking to pay off that term loan with monthly payment. Try credit card split since its a restaurant you can probably get a good offer from most lenders since its two locations if they are willing to take MCA.

[Advance Smart]

Which lender gave him term loan using liquor license as collateral? ...Do they own the property the restaurant is on maybe you can just do a commercial cash-out refi if merchant is looking to pay off that term loan with monthly payment. Try credit card split since its a restaurant you can probably get a good offer from most lenders since its two locations if they are willing to take MCA.

Lendistry is a term loan funder that will use a liquor license as collateral. The license just can't expire before the final payoff date.

[ryan $]

Lendistry is a term loan funder that will use a liquor license as collateral. The license just can't expire before the final payoff date.

Tony, what's your email - I need to talk to you about co brokering some of our deals to lenders wed on't have relationships with.

FYI - Not with Craig anymore

Shoot me an Email Ryan@JDMerchantCapital.com

[GeneralFinancialOrlando]

So... to everyone that offered everything but what asked... Thank you - However if you read the post in its entirety, the promissory note holder is looking to sell the UCC-1 filing along with ammending the UCC-3 Filing in exchange for a lump sum. The loan is currently performing. In exchange for a 1st position promissory note (Face value 145K), including the UCC-3 Liqour license, seller is looking to net 100K. I would like to make a small fee, but it is not a stipulation on my behalf. Just looking to solve a family issue.

Looks like Lendvo went above and beyond and may be able to provide a solution.

Thank you,
TM