Page 4 of 4 FirstFirst 1234
Results 31 to 33 of 33

Thread: College Grad - needs $1million loan

  1. #31
    Web Consultant
    Array
    Join Date
    Aug 2008
    Location
    Las Vegas
    Posts
    9,842
    Blog Entries
    1

    Default

    I have to agree that you really haven't provided any information about the business. All we know is, it's a business that's been around for 40 years and you need a million dollars. That really doesn't mean anything anymore. Sheason-Leahman was around 150 years. As far as we know it's an outdated business model or fastly becoming obsolete because of technology, competition, or legislation.

    We don't know.
    People look for advice for all kinds of businesses like Video Rental stores, record stores, internet cafe's...and we have to talk them down from the ledge. So there is really no way for us to know what you are talking about past asking the bank for a loan.

    So we can only give opinions based on knowing pretty much nothing about it. So the only thing we do know for sure is that you want a million dollars to buy it..so that's the only thing that we can concentrate on because we don't know anything else.
    It's hard to give a well rounded opinion with only half of the information...so yeah. A million dollar loan from a bank for a mysterious business is going to sound like stretch to us, so my first response to that if anyone else said it off of the street is "Yeah, good luck with that".

    It kind of sounds like when my friends say, "Man, if I had million dollars I'd buy that and really make some money".
    Last edited by Harold Mansfield; 01-04-2011 at 10:26 AM.

  2. #32
    Registered User
    Array
    Join Date
    Jan 2009
    Location
    Texas
    Posts
    353

    Default

    Have the current owner finance the business - 10% down, amortize the rest over 20 years with a five year balloon. Then in five years - see what you options are.
    Capital LookUp - Business Information At Your Finger Tips!

  3. #33
    Registered User
    Array
    LBFINANCIAL's Avatar

    Join Date
    Jan 2011
    Location
    Cleveland Ohio
    Posts
    3

    Default

    A loan of this magnitude, I just want to be honest with you is going to be extremely difficult in the traditional banking organization. Its a gurantee you will need some type of co signer. and your credit will definately come in to play. "but" I would like to help you. My name is Faisal and I am the President of Lifetime Business Financial in Cleveland Ohio. We use lenders that use different criterias than banks in order to help you get the funds your looking for. We can close deals up to 500million.

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •