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04-10-2013, 08:41 AM #3
- Join Date
- Sep 2012
- Posts
- 199
Hard money won't work with a cross collateralized purchase money loan unless the merchant can come up with at least 30% down. One option would be $240k cash out on existing business to put down on the new business.
If the merchant doesn't have the means to come up with at the very least 25% of the purchase price in cash then don't chase a ghost.
Scotsman Commercial loan finder is a good tool. http://www.scotsmanguide.com/default.asp?ID=2120