Funding needed for to buy very profitable business
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Withdrawn |
| Grade: | B | DTI: | 28% |
| Lender Rate: | 15% | Borrower: | Greekx80 |
| Finished | State: | IL | |
| Funded: | 11% | Group: | 435 Supporting Lenders - Get FUNDED @ LOWER % than ANY group |
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Hello I am new to this but I think its a great idea and hope to get
more and more involved as the time passes. To tell you about myself, I
am an IT specialist during the day and a student at night. I have all
my school paid for by the Illinois Veterans grant so I dont have any
issues there. I am going t school for Finance and will get my degree
next year. I am currently renting out two houses, for being 26 I think
I am well on my way. Now for my proposal. I am looking to buy a very profitable bulk vending business. I am buying this business from a friends father who has had it for a number of years now and wants to sell it so he can free up space in his warehouse and his time. He also has a HVAC business that is fairly large. I dont know the details but I do know the details of this vending business. Currently the business is set up as a corporation and it pulls in about $55,000 a year in revenue. Now the profits are about $2700 a month or about $32,000 a year before taxes. He has about 30 locations throughout the chicagoland area and has another 8 machines in storage along with about $10,000 worth or product in the warehouse. He needs the space at the warehouse to expand his HVAC biz. This sort of business does not require a lot of time on my part. Only 1 day a week to refill the machines and collect the money. It is mostly profit and I would like to expand this business to 35-40 locations by the end of the year if I get the funding for it quickly. In that case I would pay the loan off early. Help me out here and you won't regret it because in the near future I will be the one funding, not borrowing. If there are any questions, you can always email me. Thanks Tom |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 36268 | Funding needed to buy VERY Profitable Business | B | $25,000 @ 20% | Sep 02, 2006 | Cancelled |
| 90486 | Loan needed for Business | B | $20,000 @ 16% | Jan 29, 2007 | Loan created |
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