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9 Replies Last post: Jul 13, 2008 1:27 AM by dtominus

Restructuring debt in a new business

Jun 13, 2008 11:46 AM

strongheart 4 posts since
Jun 13, 2008

I'm in a bind. I purchased a small solo veterinary practice 20 months ago. Should have known better the owner was decitful and the books were cooked...was in serious decline....anyway...I have turned the practice around and now making close to 1/2 mil a year gross not great but better than the 200,000 the previous owner was doing...

At the time of the purchase I was pretty flush for cash but 2 kids in college and the declining housing prices have conspired to dry up my funds and shoot my credit rating in the foot.
It has taken a lot more capital for me to get this practice turned around. There is still much for me to do but I need to re do my debt structure. Move to some more long term notes from short term and get much of the debt off my credit cards.....So far I have had no luck from traditional banks any ideas? I ahve been practicing veterinary medicine for 22 years and had a previous practice.

Dan

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elitebiz4u 23 posts since
Mar 26, 2008

1. Re: Restructuring debt in a new business Jun 14, 2008 8:02 AM

Hi strogheart can you email you contact info to jose@elitebusinessfinancial.com so we can talk .

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LUCKIEST 7,939 posts since
Aug 6, 2007

2. Re: Restructuring debt in a new business Jun 14, 2008 8:22 AM

Restructuring debt in a new business, Welcome to this web site.

Sorry to hear that you are a bind, however it sounds like you are on the right track.

Do you know about SCORE?? SCORE is FREE with GREAT advice, but NO money.
SCORE can help you in person or on line develop a Business and marketing Plan.
SCORE sometimes can open doors at certain banks.
Where are you located??

Good luck, Keep in touch, LUCKIEST

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dtominus 109 posts since
Jun 3, 2008

3. Re: Restructuring debt in a new business Jun 14, 2008 2:47 PM

I may be able to provide an unsecured loan , no personel gurantee,
100% tax deductable , use the money any way you wish , cash in less than
5 days, please contact me for details , funds from $2500 to $500,000
also no colaterial to put up, I`m realy serious about this.....!

David Tominus
MRI - Agent
www.dtominus@yahoo.com
727-545-9530

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strongheart 4 posts since
Jun 13, 2008

4. Re: Restructuring debt in a new business Jun 17, 2008 2:18 PM

in response to: LUCKIEST

I know about SCORE used them in the past and found the councilor they set me up with useless. I kinow others have had good luck but I was not impressed.
Dr Dan

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dtominus 109 posts since
Jun 3, 2008

5. Re: Restructuring debt in a new business Jun 17, 2008 2:51 PM

Dr Dan I may be able to provide the funds your needing , And best of all its
100% tax deductable , No personel gurantee, no ucc-1 filed, no restrictions
on how you use the funds...... Please call me for details , no obligation

David Tominus
727-545-9530

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strongheart 4 posts since
Jun 13, 2008

6. Re: Restructuring debt in a new business Jul 12, 2008 5:37 PM

in response to: Loandoctor

Hello Mr Lewis;

Can you tell me a little more. You have to understand I plowed close to 300,000 dollars of personal funds into the practice after I paid 200,000 for it. The problem is about 120,000 is on personal credit cards and making the payments is killing me. SO my financials are not good. Do you still think you could help?

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dtominus 109 posts since
Jun 3, 2008

7. Re: Restructuring debt in a new business Jul 12, 2008 5:48 PM

Let me ask you , how much are you grossing monthly, and in what form do you receave payments,
please , It will help me Help you.......

David Tominus
727-545-9530

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strongheart 4 posts since
Jun 13, 2008

8. Re: Restructuring debt in a new business Jul 12, 2008 6:15 PM

in response to: dtominus

David
Monthly we gross between 30 and 40,000 dollars about 3/4 credit card business. I think I know how you lend money and to be honest I did this once before and I almost lost my shirt barrowing against my credit card income.

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dtominus 109 posts since
Jun 3, 2008

9. Re: Restructuring debt in a new business Jul 13, 2008 1:27 AM

We are diffrent, please check out www.onlinecheck.com there are other avenues out side of
cash advance, please call me .... I understand, There is no fee to apply , and you will know the full cost
before you accept any thing.....

David Tomius
Merchant advisors
727-545-9530

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Restructuring debt in a new business

Jun 13, 2008 11:46 AM

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