[Jstarr]

I have a restaurant that ive been working with for years that's in an active BK with payment structure to satisfy court, they've owned the restaurant for 18 years and currently have a contract to sell it using the EB5 Visa program for $500K and they will remain tenants under new lease ( I have contract ) - he just needs a float until it closes - and all liens and debts will be settled at closing.

Hes doing about 40K monthly in sales about 32 in cc.

[anydealfunded]

I will do this if they provide the documentation regarding bk settlement. Call me 7742088118

[MikeC524]

Does the contract state the date the restaurant will actually be sold? I think that's key just so you know the merchant won't beat you on the money if they sell it during the term of the deal. I just got a client funded with an open bankruptcy with 480 credit. He was still bringing in great income each month but the key to getting that deal funded was that he had the documentation to provide stating that they were currently in a payment plan and were up to date on their payments. This merchant would qualify for a bridge loan and the terms would be based on when the restaurant is actually going to be sold. Mike@SamsonPartnersLLC.com office# 347-492-1801

[Jstarr]

Yes it is currently under contract in accordance with eb5 the building will sell for 500,000 and it states that the current tenant will hold a new lease and remain operator of the restaurant and all debts but have to be settled prior to closing he's only looking for 15 to 20 thousand still doing pretty good volume

[Jstarr]

He fills out a monthly expense plan to satisfy courts I haven't seen the payment structure but I do have a copy of the expense report that the accountant sends in ...

[MikeC524]

My question is how long does he need the loan for and what is the official date of the sale of the business?

[Jstarr]

Correction - sale date is 11/28/2014, under EB5 rules he will remain tenant under new lease and all debts and liens will be settled at closing, he needs 15-20K ach and or split - and sometimes with real estate closings could be pushed a week or two either way it seems pretty solid.

My question is how long does he need the loan for and what is the official date of the sale of the business?