Todays SBA Financing Tip: Standbys on Seller Carry Notes Suprise A Lot Of Sellers In SBA Financed Deals - Taking back a note by the seller on a deal can sometimes mean the difference between a deal getting financed or not. Many SBA lenders handle this situation very differently. Many lenders on the larger SBA loans will make the seller take a "standby" on their note - meaning they may only get paid interest for duration of time, or no payments for a period. Borrowers, and owners need to get these details upfront since many lenders will "purpose" this structure late in the loan process - upsetting all privey to the deal.
Todays Featured SBA Pre-Qualified Business For Sale Opportunities:
1. Norfolk, Norfolk County, Massachusetts based
health & fitness center opportunity for sale - Located just off a major state highway with much development, this large multifaceted health and fitness center has been a staple of the local communities for over 20 years. The diverse clientele of the business is drawn primarily from 5 upscale towns as well as the local business community. A new owner will surely benefit from; the clubs’ crystal clean history, a very substantial monthly eft billing, a great relationship with the building owner, and an extremely reasonable lease.
25,000 sq. ft. with 150+ parking spaces minimal competition with great opportunity for expansion. Deal Structure: Price: $500,000, Adjusted Net: $122,399. For details go to: http://www.usabizmart.com/businesses/119131.php
2. Walker, Kent County, Michigan based
kids/teens furniture listing for sale - With an incredible eye for detail and a flair for every artistic nuance, these owners are true professionals at retail design, layout, marketing and sales (and they can teach it to you!). The passion they have for their business is apparent as you are greeted at the door by a colorful, "palette pleasing" atmosphere, showcasing a unique array of beds, mattresses and accessories – sure to please even the most discriminating tastes.
Creating this business in 1993, this particular store has been open since October 2004, and has grown in revenues from $38,000 in 2004,(3 months), to $722,000 in 2006. Gross margins, though already impressive, will continue to grow through new, off-shore resources. Seller can prove - not only can he compete with the ‘big box’ stores, but can be significantly lower. Cash flow is already a healthy $300,000 and poised to increase along with the new owners settling in and taking over.
The 4,200 sq. ft. store is located in a busy strip center which includes a number of complementary tenants. Open 6 days a week, the store runs primarily with a very knowledgeable staff of 3 part-time employees.
This opportunity would not exist but for family in the Chicago area calling them home. It’s with much regret they have decided to sell their very successful retail furniture business. Additional considerations such as franchising or opening of additional stores can be further discussed and negotiated with the sellers. Deal Structure: Price: $700,000, Adjusted Net: $300,000. For details go to: http://www.usabizmart.com/businesses/119140.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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