[downtownfunding]

I have a business that has been in operation for 6 years, back a few months ago the 2 partners added a new partner on and then a few weeks later he bought out the original partners, making him the sole member. Is there anyone who will fund this based on the fact that the business has been open for 6 years and he was brought on as a member, has the original EIN.

[Olderguy]

Yup just about anyone. Get an operating agreement dated 6 months back when he first joined as partner. That will satisfy ownership seasoning. I could do term loan, SBA, etc. Can use the original business start date as has the same EIN. Reach out.

[closer129]

I have a business that has been in operation for 6 years, back a few months ago the 2 partners added a new partner on and then a few weeks later he bought out the original partners, making him the sole member. Is there anyone who will fund this based on the fact that the business has been open for 6 years and he was brought on as a member, has the original EIN.

If we can get the proof of all this I should be able to fund it unless there is more to the file. But since the new owner that owns it soley only owns it for 6 months we are going to treat it as being in business 6 months since he only owned it for that long.

Scott Platto
scott@tmrnow.com
tmrnow.com
212-220-9872

[FunderFunding]

If we can get the proof of all this I should be able to fund it unless there is more to the file. But since the new owner that owns it soley only owns it for 6 months we are going to treat it as being in business 6 months since he only owned it for that long.

Scott Platto
scott@tmrnow.com
tmrnow.com
212-220-9872

So then you CAN'T do what OP is asking lmfaoooo

[closer129]

So then you CAN'T do what OP is asking lmfaoooo

I do not know what you are trying to say.

[FunderFunding]

I do not know what you are trying to say.

OP: Is there anyone who will fund this based on the fact that the business has been open for 6 years

You: we are going to treat it as being in business 6 months since he only owned it for that long.

[MichaelP]

I do not know what you are trying to say.

It sounds like the OP is asking if someone will UW with a TIB of 6 years.

[closer129]

I do not know what smart funder will give credit for 6 years when this owner has only owned it for 6 months. I do fund business as a first with at least 3 months in business if they qualify qwith banks and credit.

[Olderguy]

I do not know what smart funder will give credit for 6 years when this owner has only owned it for 6 months. I do fund business as a first with at least 3 months in business if they qualify qwith banks and credit.

Anybody will if the business has been in operation for 6 years. You just aren't familiar with underwriting guidelines for SBA, term loans and A paper loans. Just need an operating agreement with the new partner that has 6 months seasoning.

[Zonefund]

I have a business that has been in operation for 6 years, back a few months ago the 2 partners added a new partner on and then a few weeks later he bought out the original partners, making him the sole member. Is there anyone who will fund this based on the fact that the business has been open for 6 years and he was brought on as a member, has the original EIN.

As long as all 3 owners are on the contract, any funder or lender out there will touch it.

[Olderguy]

As long as all 3 owners are on the contract, any funder or lender out there will touch it.

He is the sole owner....that doesn't make sense...

[PEP_GRP_GUY]

I can take a look at those deals. If the daily balances are strong and merchant has MCA history, send it over.
B-D paper from 2nd-7th position.
Deals@pepgrp.com
Michael Kameo ISO Relations,
Progressive Equity Partners
C. (718) 749-1241 | Deals@pepgrp.com
https://www.pepgrp.com/

[Zonefund]

He is the sole owner....that doesn't make sense...

He said the existing 2 partners, added a new partner. So there are 3 partners.

[Olderguy]

He said the existing 2 partners, added a new partner. So there are 3 partners.

said bought out existing partners....that's why there is a TIB issue.

If there were still other partners, there wouldn't be a TIB issue.

[fundinggrasshopper]

biz2credit made a very aggressive offer on a similar deal recently. not sure if it made it thru final.

Once you get the operating agreement & whatever else you need your best bet is to submit it to the A Paper/ High B Paper funders you are closest with, full package, with original start date on application, no explanation - and then call your rep.

Better than anoms recommending who could get the deal done FOR THEM - in my opinion thts irrelevant bc it doesnt mean the funder would get the deal done for YOU.