Pay Day Loan & Cheque Cashing Business

Kamloops, BC

Seller Financing Available
Pay Day Loan & Cheque Cashing Business

Asking Price:$729,000

Cash Flow:$245,569

Gross Revenue:$893,827

EBITDA:N/A

FF&E:$46,567

Inventory:$280,000*

Lease Rate/Sq. Ft.:N/A

Established:2007

*not included in asking price.

Pay Day Loan & Cheque Cashing Business

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Business Description

EXECUTIVE SUMMARY

Located in the beautiful Thompson / Okanagan region of British Columbia, this pay day loan and cheque cashing company has been operating successfully for the past 10 years. This growing company has multiple locations and is positioned to expand.

Life is rarely predictable. Unforeseen financial challenges can quickly become unaffordable. Family emergencies, school, car and computer breakdowns, and a host of other unplanned expenses can cause significant concern. This company has assisted individuals with emergency financial services for many years and is there to help out when needed.

Cheque cashing is a significant revenue stream for this company. It can cash a multitude of different types of cheques, including; post-dated, personal, small business, payroll, government, money orders, & insurance cheques.

This business is well diversified. It not only offers cheque cashing and pay day loan services, but also bus passes, a cash for gold program, bill payment assistance, and mailbox rentals.

No significant capital requirements or upgrades are required. This business has everything you need to operate a successful pay day loan and cheque cashing business. All leaseholds are in great shape, computer software is up to date and all signage is like new. All locations have excellent leases in place in high traffic areas. Each lease has renewal options available.

As there are multiple locations and the licensing is tied directly to the company, this sale will be a share sale. $280,000 worth of current and collectible accounts receivables will be included in the sale price, assisting the incoming buyer with uninterrupted cash flow. All books and records are available to qualified buyers once a confidentiality agreement has been signed. All corporate accounts are current..

The seller has agreed to assist the incoming buyer with 8 weeks of operational training and will also be available for consultation after the operational training completes. If needed the seller is open to providing additional assistance past the first 8 weeks for a negotiated salary.

A $150,000 vendor financing option is available for qualified buyers.

Attached Documents


Detailed Information

Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
N/A
Lease Expiration:
N/A
Employees:
13
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Financing:
150,000
Reason for Selling:
Moving

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Stephan Klausat

Business Listed By:
Stephan Klausat

MCM Real Estate LTD.

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