[BuyTanningSalons]

I have a client that owns a chain of tanning salons, has a 700 credit score and a million a year in sales, he is looking to consolidate $300,000 over a 3 to 5 year term to a lower APR of 10% to 18% , please text me if you can help 424-281-7918 or email me at sales@buytanningsalons.com I am an ISO but I am open to a commission split on this deal or any help!!

[bdshaw]

Hi BTS, what will the owner do with the 300k?
Bob

[RichardGerard]

Good Morning Buy Tanning Salons..

1 Million in sales is roughly 83k per month. $300k in debt is considerable especially since the merchant gets paid point of sale. This looks like a tough one. The only way it can be done is if the Merchant is SUBSTANTIALLY profitable: guessing at how much you're looking to buy out- I doubt that is the case.

[sigmundpannu]

To get an answer to your question you'll need a few years of business and personal tax returns, YTD P&L/balance sheet to see if the business is profitable and can debt service for either SBA or possible FC/Fundation type of financing.

[RichardGerard]

Sigmund,

Unless the client has a 25% NET PROFIT to dedicate- they don't have the requisite DSCR.. The last few years aren't pertinent to their cash position now.

The FICO score will tell you how much personal debt has accrued, and the 15 taxes will tell you the rest of what you need to know. If you replace all the existing debt with a new facility, you back the #'s out and see what the profit margin would be. Do they have enough to cover the new debt?

That's the pre underwriting.. From there your best bet would be SBA because the 10 year AM gives the client the best shot..

[CrouchingIsoHiddenFunder]

edit: deleted I misunderstood parameters of deal, please ignore.

[FidelGlobal]

Misunderstood

[BW Capital Solutions]

Hello my name is Fidel Rivera and I am a Finance Specialist at Global Funding Inc. Are you looking for a business loan? Need money to help improve and upgrade your business? Global Funding can help you get the funding you need and get approved in a matter of 6-8 hours. There are a few requirements, one is that your business is up and running for at least 6 months and creates a monthly gross sale of at least 10k. With those two requirements and the last 4 bank statements of your business I can help.




Typical uses of loans

Purchasing Inventory
Purchasing Equipment
Bridging Receivable Gaps
Hiring Employees
Remodeling
Handling Unexpected Expenses
Launching Marketing Campaigns
Opening New Locations
Managing Cash Flow

Are you kidding? If it's a joke I get it...funny funny we all laugh...but you seem serious.

[fundmybusinessloan]

RichardGerard is spot on.