Large Loan to Purchase Existing Business
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  1. #1

    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.

  2. #2
    Senior Member Reputation points: 113 MatthewAStucchio's Avatar
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    WBL can take a look at this one. Please contact me for further details. Thank you.
    Regards,

    Matthew A. Stucchio
    Associate

    World Business Lenders, LLC

    120 W. 45th St.
    5th & 29th Floor
    New York, NY 10036

    Main: (212) 293-8200
    Direct: (212) 220-6018
    Fax: (646) 417-7161
    Email: Mstucchio@wbl.com
    www.WBL.com

  3. #3
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    Large Loan to Purchase Existing Business

    Does he have any experience in the it biz?

  4. #4
    I have a lender that will loan up to $5.0 mill if there is enough collateral to support the debt. Credit is not an issue.

    Lorraine
    765-506-8048

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