[Red]

The merchant just bought an existing restaurant that has been operating in the area for over 20 years. They have solid, consistent revenue. The new owner can provide all of the old bank statements and tax returns. The new corp was filed this month, and obviously doesn't match the corp on the old statements.

Are there any Direct Lenders that are okay with a new owner, so long as they can provide proof of ownership and purchase & sale agreement for the business?

thank you.

[OC Funder]

Several A paper funders may give him TIB credit if he was working for the old entity in a management position (back to his start date with the entity). A couple may consider if he has other previous restaurant management experience. If he's got no experience you're probably looking at high risk only until he has at least 3 months, and then maybe a CC MCA. Good luck!

[golf2014]

Yes, pm sent. If documentation is provided as you said.

[Davincinc]

bfs, kapitus rapid

[Red]

thank you!

[Chambo]

bfs, kapitus rapid

they will only consider if, as mentioned above, the new owner can prove some restaurant experience

[Mo_farhadi]

Simply Funding, we love restaurants.

Mo Farhadi
ISO Manager
646.661.4399 Direct
516.743.8524 Cell
MoFarhadi@simplyfunding.com
45 Broadway | New York, NY | 10006
www.simplyfunding.com

[Steven_O]

"Red"... I have a similar file (with more hair on it than... well, nvm)... good funders to work with: RAPID ADVANCE (will make ridiculous offer)... Jason Hausen from Quickstone... then Merchant Cash Group (Rean and his people are good, but will max at 25k on their first deal). Good luck!
EDIT: This is all on CC split...