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    Asset Based Lender for an Acquisition
    I'm having a hard time finding an asset based lender who will lend on this small of a loan amount, was wondering if anyone had any leads on getting this done.

    Here's the deal, we are acquiring a 40 year old company in a fire sale(owner got hurt). The business makes roughly $400k in Net on around $1.5M in sales, it's very profitable. The owner is asking $400k, I have $150k, he's willing to owner finance $100k, and I need $150k in alternative financing. We have $350k in inventory, and $550k in FF&E(Equipment necessary to the functioning of the business). So basically I need a loan for $150k, tied to the $900k in assets.

    Any leads you may have on commercial lenders who do these types of transactions would be well appreciated.

    Thanks in advance.


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    hey, have u tried your bank? with an expected return on profits that size, your bank shouldn't have any issues with lending an amount that size to you. if you have already attempted that and you were unable to receives those funds, my company (VMC Capital) should be able to approve you.


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    Quote Originally Posted by dave hunter View Post
    hey, have u tried your bank? with an expected return on profits that size, your bank shouldn't have any issues with lending an amount that size to you.
    +1

    try sba


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    If you have not secured financing for your acquisition - I may be able to help.
    There are companies who will provide short term working capital - such as cash advances. Sometimes this is the only funding available but know the costs are high. I have a direct lender who is working with a couple acquisitions for my clients - rates and terms much more favorable.


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    Last edited by WandaWall; 09-17-2014 at 10:55 AM.
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    I just saw this post, but if you're still looking, let me know. I have connections in asset-based lending and alternative funding who would be happy to have a conversation with you.

    Regards,
    Jaime

    Jaime Campbell, CPA, CGMA, MBA
    Chief Financial Officer | Tier One Services, LLC
    "Entrepreneurship Evolved"
    (704) 837-0185
    jcampbellcpa@tieroneservices.net


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    #6
    Join Date
    Oct 2014
    Location
    USA, Illinois, Chicago
    Posts
    20
    Quote Originally Posted by dave hunter View Post
    hey, have u tried your bank? with an expected return on profits that size, your bank shouldn't have any issues with lending an amount that size to you. if you have already attempted that and you were unable to receives those funds, my company (VMC Capital) should be able to approve you.
    I agree with you, banks are having the better ideas of loan and having less issues regarding loans.


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    What kind of business are you purchasing?

    Alleon Healthcare Capital
    201-340-6346
    benr@alleoncapital.com


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    Quote Originally Posted by dave hunter View Post
    hey, have u tried your bank? with an expected return on profits that size, your bank shouldn't have any issues with lending an amount that size to you. if you have already attempted that and you were unable to receives those funds, my company (VMC Capital) should be able to approve you.
    i am agree with your words he should try to get loan from any bank, you don't have any other option.


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