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02-21-2024, 07:06 PM #1
- Join Date
- Feb 2024
- Posts
- 2
$150 Business acquisition loan in California.
Hello daily funders, this is my first post.
What lender would you recommend for the following situation:
- Existing business (Assisted living facility).
- Needs $150k to buy another business in the same industry.
- Statements show in between 15k to 20k coming into the account every month.
- Credit score is 710.
- Business taxes show a lost year after year so, my SBA lender won't approve this deal since he goes only by what the taxes show as income.
I look forward to hearing your thoughts about this scenario and let me know if there is any extra information needed.
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02-21-2024, 07:11 PM #2
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,926
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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02-21-2024, 07:26 PM #3
Does he own the property he occupies now? Any equity to do a cash out?
Does he qualify for a personal loan?
Does he own a primary residence to do a Heloc? Can go up to 85% CLTV.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.
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02-21-2024, 10:12 PM #4
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02-21-2024, 10:35 PM #5
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,926
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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