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11 Replies Last post: Jul 9, 2008 12:39 PM by aromloan

Need Consolidation Loan & Working Capital

Jul 3, 2008 1:05 PM

lillypad3465 5 posts since
Jul 3, 2008

I am a small restaurant owner in western New York State. The restaurant has been in business since 1949. I am a third generation owner. We are a fine dining establishment. I own the building that houses the business. The building is an older structure and I have, over the past 3-4 years, put approximately 90k in improvements. Unfortunately, I had to do it with a number of small loans and credits cards. I am trying to consolidate these small loans and obtain a small amount of working capital. Extra working capital would enable more bulk buying thus making me more profitable. The consolidation would also tremendously increase my cash flow and also help me to continue to grow. I am looking for approximately 100-125k. I have equity in my building of about 175k. My salesI have increased by 100k over the last 8 years. Thank you for any input

Tags: small_business_loan, cash_flow Report as inappropriate

LUCKIEST 7,912 posts since
Aug 6, 2007

1. Re: Need Consolidation Loan & Working Capital Jul 3, 2008 1:36 PM

Need Consolidation Loan & Working Capital, Welcome

How exciting to be third generation owner of a fine dining establishment.
Anywhere near Buffalo??

*Have you developed a *Business and Marketing Plan that I can read.
**You must also have an accountant, tax returns and financial reports
**How long do you need the funds?? And HOW and When will I get repaid
**LUCKIES<br

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lillypad3465 5 posts since
Jul 3, 2008

2. Re: Need Consolidation Loan & Working Capital Jul 3, 2008 2:43 PM

in response to: LUCKIEST

We are about 1 hr south of Buffalo. I have been to our local SBDC and have a business plan "draft". My counselor is on vacation through the end of next week. I have an accountant, tax returns, etc. I was hoping, if there is such a product out there, of an interest only payment for a year or two (quarterly, monthly) with payment in full in three years. I feel that the interst only (lower payment) will enable me to actually save money physically over this time frame putting me in a tremendously better cash position.

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apexfunding 55 posts since
Jun 23, 2008

3. Re: Need Consolidation Loan & Working Capital Jul 4, 2008 12:32 AM

Hi:

I am curious to know if you had considered refinancing your property either through the bank or commercial broker. In which case, you would have cash to resolve some or all of loans as well as for the working capital. If you did consider refinancing, what has been the result?

Thanks,
Steve Do
Business Consultant
Tel:(832) 483-7485

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madereal 40 posts since
Jun 13, 2008

4. Re: Need Consolidation Loan & Working Capital Jul 4, 2008 1:26 AM

I would like for you to get in touch with me right away,our company can help you out with your needs,i look forward,to speaking to you about your capital needs.. Thank you. call me.

JMURPHY
LOAN ADVISOR
608-669-4434

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dtominus 109 posts since
Jun 3, 2008

5. Re: Need Consolidation Loan & Working Capital Jul 4, 2008 9:27 AM

Please contact me , I can help you, And the great thing is it will be 100% tax deductible
and no personel gaurantee!

David Tominus
727-545-9530

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lillypad3465 5 posts since
Jul 3, 2008

6. Re: Need Consolidation Loan & Working Capital Jul 4, 2008 11:11 AM

in response to: apexfunding

Thank you for your response. I do have a mortgage through my local bank. A few years ago I asked them for a loan to to get my improvements done. They told me no; reason being they were my only creditor and wanted me to find other sources of credit. Early this year I went to them again after the improvements were completed but now they tell me I have too much credit. I did what they wanted - got more credit. All I am looking to do is consolidate all the "small" capital improvements loans.

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lillypad3465 5 posts since
Jul 3, 2008

7. Re: Need Consolidation Loan & Working Capital Jul 4, 2008 11:14 AM

in response to: madereal

Thank you, I will call on Monday with my bookkeeper.

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lillypad3465 5 posts since
Jul 3, 2008

8. Re: Need Consolidation Loan & Working Capital Jul 4, 2008 11:15 AM

in response to: dtominus

Thank you, I will call on Monday with my bookkeeper

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WWPROPS 1 posts since
Jul 4, 2008

9. Re: Need Consolidation Loan & Working Capital Jul 5, 2008 12:05 AM

Is there anyone that can help me? I'm in property management I have established my LLC which is over 2 years old. I have business experian score of 97, Paydex of 80 and several small business credit lines. My biggest problem is i can't get any bigger Lines of Credit because my personal scores are 664,588,572 (an old collections account from 02 has been re-aged and tanked my scores 10 months ago) I have a partner with scores 667,614,620. I feel that i'm in between a rock and a hard place. Since my LLC wasn't 2yrs+ when I obtained 5 properties I had to put them into my name (PG) now I'm looking for "working capital" and there isn't a lender out there that will help me. I know the industry has tighten because of the economy and mortgage mess but I believe someone out there can "really" help me without trying to SCAM me out of money. I'm not desparate, I just want this working capital so I can grow my business I'm in a great area with a ton of opportunities.

I don't access credit cards -(although I'm thinking about it)
I would be willing to work with a co-signer if someone wants to make 10-15% after funding.
I'm in PA
I have about 15-20% Equity in most of my properties and positive cash flow in most.
If you feel this picture is doable please contact me at jlwinvestments@hotmail.com first and then we can schedule a call or review details via email. Again I'm not looking to pay huge upfront fees!

Happy 4th of July

J

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geom009 24 posts since
Jul 6, 2008

10. Re: Need Consolidation Loan & Working Capital Jul 7, 2008 11:36 AM

in response to: lillypad3465

Hi, I'm a broker I'll be willing to get you a loan for your business for improvements.
tfs_processing@yahoo.com

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aromloan 6 posts since
Jul 7, 2008

11. loan offfer Jul 9, 2008 12:39 PM

We are arom loan company ,we are here to offer you any type of loan you which to .
we offer small loan interest rate.which is affordable 3% Per Annul interest rate.
Note: That funding can happen sooner than the expected time depending on the response
speed of the clients and provision of the necessary requirements.
we here to offer you this loan .

for moon information contact aromloan@yahoo.com

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Need Consolidation Loan & Working Capital

Jul 3, 2008 1:05 PM

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