Leveraging existing business for an advance of the owner.
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  1. #1
    Member Reputation points: 32
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    Leveraging existing business for an advance of the owner.

    The bar right now does between $27,000 and $30,000 a month. Merchant would need between $80,000 and $100,000 to compete the purchase. Bar has been open itself since December of 2014. It is a leased space. Merchant is not part of the business right now, would be taking it over. All of the equipment is brand new (less than 2 years old). I have the last years tax return for the business, but I'm not sure about the money getting into the bank right now. The bar has a full 4HOC liquor license(This is can be leveraged). Merchant credit score is in the mid 600s. A long stretch, but can anyone do something with this.

  2. #2
    Senior Member Reputation points: 3088
    Join Date
    May 2016
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    148

    Maybe ABC's purchase bridge product? They could also consider putting up the liquor license as collateral.

  3. #3
    Senior Member Reputation points: 32658 Zach's Avatar
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    Nov 2013
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    1,733

    WBL can do acquisition loans like this. Does the borrower own real estate?

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