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06-08-2015, 10:30 AM #1Member
Reputation points: 10
- Join Date
- Jan 2015
- Location
- Los Angeles, CA
- Posts
- 7
New Owner, Established Business - DTF?
I've been running into this a lot with my leads lately.
Does anyone fund established business (8+ years) with a new owner?
Does the owner's experience, or lack thereof, affect approval? Does it matter?
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06-08-2015, 12:59 PM #2Senior Member
Reputation points: 1422
- Join Date
- Dec 2013
- Location
- Connecticut
- Posts
- 332
I lost a deal to Swift who purchased a pre-existing business with only 60 days of ownership, they offered them a 8 month deal. If they purchased the existing legal entity and likeness without assuming any previous debt or obligations you should be good to go with several lenders.
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06-08-2015, 02:57 PM #3Senior Member
Reputation points: 54977
- Join Date
- Dec 2013
- Posts
- 4,713
Cresthill Funds most of those files...
Recently we've changed our model and make FIRM offers in HOURS.
Feel Free to Test us on a file or two
bizdev@cresthillcapital.com
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