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03-26-2014, 12:35 PM #1
Reputation points: 47257
- Join Date
- Apr 2013
- Location
- Basalt CO
- Posts
- 867
Merchant Looking for funding, wants delayed payback
I have a restaurant opening another location. They are looking for 100k. Gross sales are $1.087,000 a year, 77k a month in CC sales.
Pretty solid business. ODC had them an offer of 100k, 15 months turn at 252 payments of 543.
He wants to take the funds, build in the new restaurant then start paying. SO he is looking for a delay in payments or reduced amount for the first month.
Anyone out there doing something like this?
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