ForumsFinancing Tips

Up to All Forums

This Question is Possibly Answered

1 "correct" answer available (5 pts) 1 "helpful" answer available (4 pts)
Post a new topic
8 Replies Last post: Jun 5, 2008 1:17 PM by heretohelp

Need Angel Investor for Towing Business Acquistion $160,000

Jan 24, 2008 8:25 PM

Click to view lfgrading's profile Start-up lfgrading 4 posts since
Jan 15, 2008

My husband and I are looking to purchase a towing business and have tried all avenues of funding. This business is made up of 2 tow trucks, 25 motor club accounts, 10 small business accounts, 3 dealership accounts, 2 repossession bank accounts. We currently own our home and have over 60% of equity on the home. We are willing to use the house as collateral. Our credit scores range from 510-550 WITHOUT bankruptcies or foreclosures. We are also willing to pay an interest rate of 16%.
Tags: Report as inappropriate
Click to view LUCKIEST's profile SCORE LUCKIEST 7,912 posts since
Aug 6, 2007
1. Re: Need Angel Investor for Towing Business Acquistion $160,000 Jan 24, 2008 9:28 PM
Welcome to this website. You have come to the right place looking for an angel investor.
Do you have a Business and or Marketing Plan??
16% interest is nice For how long?? and When will you pay it back?
LUCKIEST
Report as inappropriate
Click to view lfgrading's profile Start-up lfgrading 4 posts since
Jan 15, 2008
2. Re: Need Angel Investor for Towing Business Acquistion $160,000 Jan 25, 2008 1:00 PM
in response to: LUCKIEST

Luckiest,

Thank you for your response. I current do not have a business nor marketing plan. I would like a 30 yr. fixed rate with a balloon in yrs, if possible. Like I mentioned this is very promising business.
Report as inappropriate
Click to view DomainDiva's profile Mogul DomainDiva 1,727 posts since
Oct 10, 2007
3. Re: Need Angel Investor for Towing Business Acquistion $160,000 Jan 25, 2008 1:54 PM
I am guessing that the low credit scores are a result of no credit history rather than deliquencies. Have you checked your scores since Jan1? There is a new alogrithim being applied that may give you a boost. Also do you have an audited financial statement? If your credit score is low because of a light credit history (because you pay cash for everything) the financial statement will fill in the gaps.

Good luck...this sounds like a super deal.
Report as inappropriate
Click to view lfgrading's profile Start-up lfgrading 4 posts since
Jan 15, 2008
4. Re: Need Angel Investor for Towing Business Acquistion $160,000 Jan 25, 2008 2:57 PM
in response to: DomainDiva
Our Credit scores are low from past paid charge-offs and some past late payments. now its from too many inquires to try to find financing for this business.
Report as inappropriate
Click to view lfgrading's profile Start-up lfgrading 4 posts since
Jan 15, 2008
5. Re: Need Angel Investor for Towing Business Acquistion $160,000 Jan 25, 2008 7:26 PM
in response to: lfgrading
Does anyone know an angel investor that would be interested in this type of loan?
Report as inappropriate
Click to view walterdon's profile Mogul walterdon 32 posts since
Feb 5, 2008
6. Re: Need Angel Investor for Towing Business Acquistion $160,000 Feb 7, 2008 5:16 AM
do you you have a good plan and net worth do email me walterdonn@gmail.com
Report as inappropriate
Click to view Bridge's profile Mogul Bridge 359 posts since
Jun 3, 2008
7. Re: Need Angel Investor for Towing Business Acquistion $160,000 Jun 4, 2008 10:21 AM

Are you still looking to purchase this business? I may be able to assist you. I am the former VP of Acquisition for RoadOne (NYSE MLR). At the time I left, we were the largest towing provider in the country. I have purchase many towing businesses.

What are there revenues? Is it all light duty or do they do HD as well? Normally club accounts are the lowest margin business.


How old is the equipment? Seller financing should be a possibility in this case if the Seller believe in their business.


Greg Dupuis

Bridge Ventures, LLC

Merger & Acquisition Advisors

www.bridgeventuresllc.com

813-343-2214

Report as inappropriate
Click to view heretohelp's profile Mogul heretohelp 14 posts since
Jun 5, 2008
8. Re: Need Angel Investor for Towing Business Acquistion $160,000 Jun 5, 2008 1:17 PM
Hi,

Please contact me at 781-341-0700. I can definitely discuss with you how you can meet your capital needs. We can get you the capital you need in as little as 72 hours.

-Tiffany
Report as inappropriate

More Like This

Most Recent Forum Posts

STOP! WHAT IS IT? NEED TO KNOW BASIS
7 hours ago

What it takes to start a business?
7 hours ago

The Truth about Cash Advance Factoring
7 hours ago

getting noticed
8 hours ago

Legend

  • Open Question
  • Answered Question
  • New content since your last visit
  • Updated content since your last visit
  • Content you have read