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    2 Replies Latest reply on May 16, 2008 2:20 AM by TJMorehead

    In need of funding

    darlahr Newbie
      Hi,

      I have the opportunity to purchase a cash advance store that has made approximately $90k since January of 2008. This business has been open and profitable for about 27 months. One of the owners has moved out of state and the other has another a business as well and not enough time to devote to both. I would need approximately $100k to take over this store - $50k to buy them out and $50k working capital. The business has expenses of $4000 per month and there is one person on payroll at this time.

      I would be able to pay someone back over a 3 year period (probably sooner) at 8% interest. If you did not want to loan $100k, the seller is willing to finance at 5% - I would just like to have 1 payment for start up costs. Please let me know if anyone can help.

      Oh, I don't have an accountant or lawyer as of yet - I'm just wondering if someone would be interested in this deal first and foremost and then if everything check out, we could move forward.

       

      Thank you
      Darlah