Need a Funder or Vendor? START HERE

Results 1 to 7 of 7
  1. #1
    Senior Member Reputation points: 8723 helpinghand's Avatar
    Join Date
    Apr 2015
    Location
    Cleveland
    Posts
    157

    Need $275,000 loan for biz to purchase building

    Hi everyone,

    My client needs a $275,000 loan to purchase the building he currently operates out of. His annual rent expense is right around $70,000. Having trouble finding a lender, I hope posting to this thread helps.

    If you think your company might finance this, or if you know of a company that might, please do not hesitate to reach out.

    Here is the skinny on our client:

    Glass and mirror glazing company
    In business for 4+ years
    Took a loss in 2013, -$82,165
    Netted profit of $178,000 in 2014
    Revenue growth, 2014 versus 2013: 92.3%
    Quick Ratio, 12/31/13: 1.03
    Quick Ratio, 12/31/14: 1.28
    Quick Ratio (Interim Financials), Q1, 2015: 2.03
    Profit (Interim Financials), Q1, 2015: $29,000 (note: Q1 is slowest Q)
    Owner is 100% owner, personal credit score just under 650

    In my hands I have the following documents:

    Sept - Feb, 2015 bank statements
    Debt schedule (2 cash advances and an advance repayment owed to Fundbox, around $90k)
    2012, 2013, 2014 financials
    Q1 2015 Interim Financials
    3 Years biz tax returns
    1 Year personal tax returns

    Again, if your company or any company you know of will consider financing this, please let me know. The full amount would be slightly more than $275,000 in order to cover origination.

    E-mail me directly at CapitalPartnerSolutions@gmail.com - this is not the name of my company but an e-mail created specifically for posting to public threads.

    THANK YOU!

  2. #2
    CALL RUDY AT MERCHANT SOURCE OR EMAIL ME. 646-757-3000 OR EMAIL rjames@merchantsourceinc.com

  3. #3
    Senior Member Reputation points: 68233
    Join Date
    Dec 2014
    Location
    Quogue, NY
    Posts
    1,108

    Details... What is the building worth? Is there a down payment? Why is the owners credit beneath 650? Mortgage lates? What kind of property is it?

    We are a licensed Mortgage Broker that can assist if the buyer has the requisite skin in the game, the property appraises, and there aren't problems with credit and/or title..

    Richard 516 510 3855

    www.businesscapitalconsultants.com

  4. #4
    Banned Reputation points: 4530
    Join Date
    Mar 2014
    Location
    Ann Arbor, Michigan
    Posts
    1,289

    We should be able to get them a 10 year loan for 100% of the purchase price.
    Bob Shaw
    734.929.3800
    rshaw@advancecredit.com

  5. #5
    Senior Member Reputation points: 14
    Join Date
    Apr 2015
    Posts
    188

    Lets talk and shoot me an email at nathaniel@instafundllc.com

  6. #6
    Hello, 860 348 6371 shawn, call me

  7. #7
    Senior Member Reputation points: 62986
    Join Date
    Apr 2015
    Location
    Louisiana
    Posts
    299

    Need $275,000 loan for biz to purchase building

    Call Brian at commercial capital (770) 908-1672 one of the best at getting commercial mortgages done. Lender and broker.

Similar Threads

  1. Bar/Restaurant plus 4 Unit apartment building.
    By Shawn C. O'Neil in forum Deal Bin
    Replies: 5
    Last Post: 12-30-2014, 03:14 PM
  2. Purchase Order Financing
    By JeffMulford in forum Merchant Cash Advance
    Replies: 1
    Last Post: 09-25-2014, 03:27 PM
  3. gas station purchase
    By omegafund in forum Deal Bin
    Replies: 1
    Last Post: 09-11-2014, 05:16 PM
  4. Florist with low numbers, needs 5k, has building as collateral.
    By JEFFREYMULFORD in forum Merchant Cash Advance
    Replies: 7
    Last Post: 11-22-2013, 12:52 PM
  5. Purchase Order Financing
    By Quickfunder in forum Merchant Cash Advance
    Replies: 2
    Last Post: 07-02-2013, 06:40 PM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


INDUSTRY ANNOUNCEMENTS

BoA launches business loan marketplace
Quickbooks adds new LOC product
Dext Capital upsizes corp note


DIRECTORY