Need Some Lenders.
I want to purchase an established store in a big mall in texas. it has been there for about 6 or 7 years and is consistently very profitable. The owner is asking for $200,000 with a 70% down payment. Those are just the asking price so maybe they might agree to sell it for $150,000 and with $80,000 down payment.
The cash flow for last year was about $300,000. We need to borrow money for the downpayment. We do not have good credit because it is not established yet. But there should be no deregatories. There is no property involved since it is just leased in the mall. There is $120,000 worth of inventory included though, and there are also a few equipments. How much interest should I offer to lenders to make my proposition attractive to them and where could I find such lenders? Please advise me on what to do. Thank you so much.
At the top of this page, you'll find a lender's tab. Click on it and find you some cash.
There should be a number of commercial brokers in your local area. Use the phone book, check with real estate and business brokers to see who they recommend, speak with your banker to see who they know in the market.
John