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10-18-2016, 11:24 AM #1
- Join Date
- Dec 2014
- Location
- NYC/Florida
- Posts
- 86
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.
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10-18-2016, 11:29 AM #2
- Join Date
- May 2016
- Posts
- 148
Maybe ABC's purchase bridge product? They could also consider putting up the liquor license as collateral.
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10-18-2016, 12:06 PM #3
WBL can do acquisition loans like this. Does the borrower own real estate?
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