Results 1 to 4 of 4
-
08-29-2022, 02:15 PM #1
- Join Date
- Mar 2022
- Posts
- 9
1st position - Just Purchased the business making over 150k per month
Hi, I have a merchant who is a 1st position, he is the owner (as of today) of a business thats revenue is over 150k per month.
The merchant has been "studying" under the previous owners for the past 6 months to learn the business.
Merchant is wanting to get funding in a brand new account that he opened.
Any ideas?
-
08-29-2022, 03:12 PM #2
Lenders may take previous bank statements from previous owner...may have ownership seasoning guidelines to consider. Check with the lenders. I remember doing a deal or two like this when I worked for a direct lender. The loan app will say busines start date and ownership start date.
Last edited by Olderguy; 08-29-2022 at 04:13 PM.
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
-
09-20-2022, 02:02 PM #3
- Join Date
- Sep 2022
- Posts
- 17
Would love to work with you
Asher Klien
InstaFund Advance
asher@instafundadvance.com
347-377-0223
-
09-20-2022, 02:12 PM #4
- Join Date
- Aug 2022
- Posts
- 28
We can fund into a brand new account with past account history no problem. However, did he keep the same tax ID and company information as the original owners? Also, is there a purchase agreement that shows that your new guy is in fact 100% (or at least 51%) owner of the business. If so, this is a deal we'd like to take a look at for you! Send me an email to mac@clarityadvance.com and we can get you onboarded to use our portal and submit today!
Similar Threads
-
2.5M Revenue a month.... Loookjng for 12 Month Second Position of 150K
By jjdcnetrex2 in forum Deal BinReplies: 6Last Post: 11-19-2019, 12:04 PM -
Doctor making 150k a month need consolidation
By Fundthis! in forum Deal BinReplies: 7Last Post: 10-29-2019, 11:25 AM -
Established business making 500K per month seeking 125k 3rd position
By CashAdvanceKing in forum Deal BinReplies: 14Last Post: 12-14-2017, 01:02 PM -
WHO CAN TAKE MCA LEADS WHERE BUSINESS OWNERS ARE MAKING 5k-10k A MONTH IN REVENUE?
By Ryan McGlynn in forum PromotionsReplies: 13Last Post: 11-22-2017, 12:46 PM -
2nd position,150k 12 month
By nateteabs in forum Deal BinReplies: 16Last Post: 01-06-2016, 04:10 PM