Results 1 to 4 of 4
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03-30-2016, 12:41 PM #1
- Join Date
- Nov 2014
- Posts
- 8
Business changing name and ownership
I'm talking to a manufacturing business in CA that is changing owners. The company will also have new incorp papers and name, etc. The product and the customer base will stay the same moving forward. $3.5 mill annual revenues. New owner has a 796 credit score. No real estate or equipment to be used as collateral.
This would most likely be considered a "new" business by a number of lenders. Who would consider funding this business?Last edited by csbdave; 03-30-2016 at 12:50 PM.
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03-30-2016, 12:44 PM #2
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,508
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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03-30-2016, 12:59 PM #3
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
Definitely worth a shot contacting Kevin.. It's not an advance but if there is a legitimate way to get it done on tier 1 paper- he will
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03-30-2016, 03:15 PM #4
- Join Date
- Aug 2015
- Location
- Boulder, CO
- Posts
- 755
Hey CBSDave,
I am a direct lender and would not look at this as a start up, since the business has been in existence for quite some time.
Not sure what kind of funding your client is looking for, but we do 12-18 month term with monthly payments. Funding is predicated upon net income from the business, not bank deposits.
Feel free to reach out if you would like to discuss.
Best,
Dan Page
Direct: (303) 938-8280
dan@fundingstrategypartners.com
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