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HELLO. WE CAN HELP YOU WITH GETTING THAT LINE OF CREDIT, IF YOU HAVE GOOD CREDIT. YOU CAN CALL ME DIRECT ANYTIME AT 608-669-4434, AND WE WILL GET YOU THE CAPITAL YOU NEED.THANK YOU!
Need funding to purchase existing business
Welcome. Tell us more. What and Where is Sober living facility??
How Much and How Long?? Have you developed a Business Plan that I can see??
The facility is in Atlanta, Georiga. It currently is at full capacity with 18 tenants in 3 apartments and a waiting list. We would like to expand this facility out to 5 apartments by the end of the year and add 3 every year after. There is a great need for affordable clean living facilities in Atlanta. We don't have a business plan yet, but intend to get one done. We do have a projection sheet completed though. Hope you can help with this venture.
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You may consider the current owner as your backing. There are alot of ways you could form a partnership that works out for both of you. or maybe you could get some funding by directly contacting some non profit organizations that fight substance abuse. Sponcerships can go a long way, try offering some advertising in return.
I have a web site for small businesses looking for all types of solutions. If you go to www.mysmallbizinfo.com I have a page there for businesses looking for funding sources. Click on the 4,000 Loan Sources link. You just input what you are looking for and lenders will call you. Hope this helps.
Depending on the assets and cash flow of the business you might be able to structure this as a leveraged buy-out (LBO). In other words, the deal itself creates the cash for you to buy the existing business. There are a number of ways to do this but of course it depends specifically on the deal. There's too much that goes into evaluating it to see if the situation lends itself to an LBO to put here in this forum. But you can search online for information on "LBO's, Leveraged Buy-Outs, How to buy a business without money for a down payment" etc. There are books and courses out there to teach some of the different methodologies.
You can also search online for asset-based lenders or hard money lenders. These lenders are interested in the value of the collateral only which makes real estate one of their primary interests for funding. Equipment and other assets can be used as well. Of course the cost of this type of money is going to be high so you will want to run the numbers on the deals to make sure you can cover your debt service until you can refinance at a lower rate if you have leveraged the real estate in the deal.
I hope the above helps or gives you some ideas.