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01-20-2016, 09:15 AM #1
- Join Date
- Apr 2015
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- 297
Unique Sitation
So I have a merchant who has just bought 6 gas stations and is looking for $500k+ for general working capital and improvements.
Normally this wouldn't be a problem for me but since he just bought these companies within the past couple months, I am not sure how to approach it. The biggest obstacle I am sure I will face is there are 4 different EIN numbers for 4 different companies (1 company has 3 locations).
The total combined monthly sales are $1.3M and the breakdown is as follows:
Location one: $$290k a month
Location 2: $130k a month
Location 3: $350k a month
Location 4: 130k a month
Location 5: $270k a month
Location 6: $170k a month
I wont itemize the credit cards but combined they average $470k a month in transactions.
Any thoughts?
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01-20-2016, 09:23 AM #2
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- Jul 2014
- Posts
- 1,746
Unique Sitation
If they are all different entities (which is apparent by 4 different EINs), you are probably in for a long road doing 4 separate advances, one per entity. If he just bought them, POO might be an issue too.
Long road on this one but may be a big pot of gold at the end.
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01-20-2016, 09:27 AM #3
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- Apr 2015
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- 297
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01-20-2016, 09:51 AM #4
Unique Sitation
You probably already know this, but if they have enough real estate they can pledge WBL can probably do over $1MM
Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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01-20-2016, 09:55 AM #5
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- Jun 2015
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01-20-2016, 10:02 AM #6
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01-20-2016, 10:02 AM #7
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- Jul 2014
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- Online
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- 965
Emailed.
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01-20-2016, 10:03 AM #8
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- Jul 2014
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01-20-2016, 10:09 AM #9
- Join Date
- Oct 2013
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- New York, NY
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- 1,203
Doesn't matter with separate Tax ID's and separate entities, most if not all companies will want multiple docs especially given the SIC code and lack of significant TOO
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01-20-2016, 10:19 AM #10
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- Jul 2014
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01-20-2016, 10:38 AM #11
If you explain all upfront and it is underwritten as 1 deal it will be a lot of paperwork but shouldn't take longer then if it was just one company. It will be a lot of paperwork but if it is clean the volume of paperwork shouldn't affect the speed too dramatically. I see the bigger problem being it is a gas station not that it is 5 separate business', even with sales where they are I dont know how many companies will want to go 500k for gas stations.
John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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01-20-2016, 10:52 AM #12Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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