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04-06-2015, 11:22 AM #1
Boost Mobile Stores..
i have a client that is purchasing 2 boost mobile stores for $180k and needs an additional 30K bridge loan so they can close, his score is mid 500 - or should i have the seller take out an mca and have the buyer assume the payment.
thoughts. its Monday morning and my brain isn't working
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04-06-2015, 11:30 AM #2
- Join Date
- May 2013
- Posts
- 67
Yes. Cross coll. across both stores and take a small hold from both locations, at this point I'm guessing you already took over the processing. PM me if you need any help.
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04-09-2015, 12:15 PM #3
- Join Date
- Oct 2014
- Location
- New York
- Posts
- 50
this merchant will not be able to get a cash advance. They will need to have a minimum of three months in business. FICO 500 will make it very difficult getting a bridge loan or asset base unless they own the property out right. Best of Luck!
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