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05-14-2015, 10:56 AM #1
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- Join Date
- Aug 2013
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Large Loan to Purchase Existing Business
I have a client that I've worked with in the past looking to purchase another existing business. He currently owns 2 restaurants that average about $150k a month in revenue. He is looking to purchase an IT Services company that generates $5.8 million a year. The purchase price is $1.8 million with the current owner willing to finance $800k if my client can come up with $1m down. He does not want to reach into his own pockets unless it is necessary, has property he can use for collateral, and is willing to leverage his existing business to help finance the deal. Any direction on where to go with this would be greatly appreciated.
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