Today's SBA Tip: Credit Cards Cant Be Utilized For Business Purchases With SBA Loan Financing - I have had a few clients purchasing a small to mid-sized business who have wanted to use credit cards to "finance" their down payment. Sorry you can't, first the SBA doesn't allow "borrowed funds" for down payments, and second you would be raising your personal debt load that would probably get you ejected from the loan process in the end. Funds for business purchase financing down payments usually come from: savings, investments, home equity, or gift money from family members.
Today's Featured SBA Pre-Qualified Businesses For Sale:
1. Los Angeles County, California based
British pub with real estate for sale - This English pub is a classic in every sense in its style as well as reputation. It's located in a prime solid upscale affluent community and is very visible. It has a liquor #47 license, a friendly atmosphere designed in traditional pub style. Bar with table seating in a comfortable pub atmosphere. There are two patio seating areas front and rear. Decorated for style and comfort with big TVs in each room, where the latest soccer matches are on daily. Happy hour Mon-Thurs. Appetizers served each day english faire pub grub. The real estate is included prime investment, plus the potential is huge for the business. Deal Structure: Price: $1,995,000, Adjusted Net: $250,000. For details go to: http://www.bizben.com/listings/89788.php
2. Concord, Merrimack County, New Hampshire based
Laundromat with real estate for sale - this laundromat has 16 top loaders, and 20 front loaders in three different sizes. Also there are 30 dryers and soap, soda and change machines. the cash flow below includes almost $7000 for a cleaning service. You can clean yourself and pocket the extra money. Also wash and fold service could be added to increase revenue. Buy the package and the cash flow will allow an absentee owner to pay off the building! Located on one of the busiest roads in the area. 2100 sq. ft. building on major roadway. Asking price $548,000 ($149,000 for business and $399,000 for building). Deal Structure: Price: $548,000, Adjusted Net: $374,000. For details go to: http://www.usabizmart.com/businesses/115473.php
* Note: These businesses have been business pre-qualified only - buyers of these businesses will also have to be pre-qualified - before SBA loan business purchase financing may be obtained. Approximately 32 different factors (buyer/seller info) are evaluated in the SBA loan process for business purchase loan financing.Technorati Tags:
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