[Intermediary23]

Current restaurant generates 1.2 million annually. Good credit, has collateral.

[anonymous]

which wbl office is going to be first to the punch?

[Michael I]

which wbl office is going to be first to the punch?

your signature already won lol

[anonymous]

20 minutes has passed without a single WBL rep posting, you guys should be ashamed of yourselves haha.

[HDF]

Pepe promised to step up his game. Let's go Pepe!!! 25-1 In the quinella box with Zach

[Michael I]

chris is east coast he got a couple of hours before zach wakes up

[SCCNY]

Dont worry about the credit.. With that collateral you should be able to easily secure a 12 month 1.73 approval with wbl

[hrosario]

I can help with this if he has not received the funding yet.

hrosario@bizloanamerica.com

[RichardGerard]

How can anyone honestly say they can secure $1.3M for a restaurant doing $1.2??? What assets do restaurants have? Walk in Boxes? What is their profit margin?

Having owned restaurants I can tell you that most are tax write offs for people that own other businesses -so they try to show losses. Even when profitable they nearly always try not to pay sales tax on cash sales.. Which means that profits are almost always as little as possible.. If that's the case, how can they show enough debt service coverage to qualify for another $1.3 in debt???

[bdshaw]

I agree with Richard. I think you are wasting your time unless you go to a SBA lender.
Bob

[RichardGerard]

We have done Restaurants for more than $1M Bob, but Real Estate was involved. As you know they still need to have that 1.2 DSCR in order to write the paper- but that's easier to achieve with a 10 year Amortization- AND no rent..