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Fico Score 800, Have 120K need 600K business loan

Hello, I owned a salon for 5 years good profit, but looking to buy a bigger existing day spa salon with gross $130,000/month. Can not go SBA due to seller won't provide financial documents.
Thank you!

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Jul 15, 2016
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Cook County, IL

Have you signed an NDA to at least view the books? If you have, and you've also signed an agreement to purchase, then there might be a problem. With a signed NDA the minimum they should show you are P/L and balance sheets. With a signed agreement to purchase, you should be able to get the last six months of their redacted bank statements. Lenders need this information to see whether or not there is income coming in within the last several months and to make sure they aren't showing any negative balances. Contact me at midwest54@aol if you are interested further. Good Luck.

Jan 23, 2014
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Caneel Capital
Business Loans


Please don't consider buying a business if the owner will not provide you financial information. You will not get a loan from any lender without that information. This is the only way you actually know what you are buying. The business might gross 130K a month but how do know that it does not have 128K a month in expenses. I would say the seller is not serious about selling or is hiding something. Please contact me if you have any questions.

Jan 21, 2014

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