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    2 Replies Latest reply on Mar 14, 2009 8:58 AM by bmt2008

    Looking for help to finance a purchase of a club

    Lindholm77 Newbie

      I'm trying to get a loan to buy a nightclub. I'm from Sweden where I used to work as a bartender. My goal is to get a nightclub in Florida.

      I have found one that looks REALLY interesting, they want either 600k for it or 25% down and they will finance the rest. Since me and my wife are so young, there is just no way that we can come up with kind of money yet. I could probably put in 20k but that's about it.

      The club we are looking at is located in Downtown Miami.

      Since I'm not a citizen yet I do not have a credit score at all and my wife's credit is not good.

      I have not yet contact the seller of the club with because I dont want to waste their time with no money.

      Looking forward to hear from anyone who can help us!

      / Tommy

        • Re: Looking for help to finance a purchase of a club
          LUCKIEST Guide
          Looking for help to purchase of a club, Welcome Tommy

          I also do not want to waste your time. Have you developed a Business and Marketing Plan that I can read??

          Talk to me, LUCKIEST
          • Re: Looking for help to finance a purchase of a club
            bmt2008 Adventurer

            To be extremely honest with you - you have no credit and your wife's credit is bad. No one will lend to you. No matter what anyone else tells you - no one will lend you $600K or 25% for a down payment - that is just the reality of it.

            You do have two options that I can think of. First, find a partner with money - someone that not only has the $600K or $150K downpayment and also has experience runing a business in Florida. You can get out into your community and network. Talk to people - you never know who you will meet.

            Second - if you have $20K - why not start with something a little smaller. There are many franchises (even some of the best franchises like Subway) that only require arount of $15K to $20K. If your long-term goal is to own/run a night club - then work up to it.

            Just my thoughts