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I Need About $5 Million To Purchase Already Established E-commerce Internet Business

I'm young, my credit falls somewhere in the middle, and I don't have any down payment. This might be considered an asset based loan I'm looking for? Can anyone help me? Also, possible 10-20% return indefinitely if an investor. I am open. Thank you kindly.

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Answers (10)
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I have about 3MM cash from real estate and considering trying other investments to split my pot. please answer some basic questions via email. Whats the ACTUAL current Net Operating Income on this business, how many employees involved? whats kind of partnership can you offer, please contact me @ 6621614@gmail.com

Dec 1, 2010
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Unless you are well connected with people who are extremely wealthy, you have no chance on this. You are not going to get a 2 mil loan. If it was that easy to do don't you think we would all be doing this? I am really not trying to be mean, just realistic.
My bank that sees me transferring money from my general account to my personal account in amounts of 10-12k since Sept 2006 won't give me a business loan without property to back it.
I could try elsewhere but like my previous post the terms, fees, interest and points wouldn't be worth it.
So I just pay cash and try to improve the business one piece at a time.
Going into a project with that much debt is a recipe for disaster anyway.

Nov 26, 2010
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What do you think I could do then to better my chances?

Nov 26, 2010
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The BAF Group LLC
MD

There is no way of knowing, based on the information you have provided here. If you want, call me (Don, 410-715-0700) and we can talk it through. We do a fair number of business loans. But I have to tell you that, based on the information you have provided so far, it does not look promising.

Nov 25, 2010
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Even if it was $2M I needed, all I have is a life insurance policy for $200,000 that started September 2009, but I don't think that would do me any good. Would getting a personal loan as a down payment be the best thing to do?

Nov 25, 2010
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Even if it was $2M I needed, all I have is a life insurance policy for $200,000 that started September 2009, but I don't think that would do me any good. Would getting a personal loan as a down payment be the best thing to do?

Nov 25, 2010
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Honestly, nobody is going to give you 5 mil. You have no money of your own in the project first of all. Second, if you were to find an investor, they would want way more than 10-20%. They would want controlling interest which means they get the majority of the profits.
Even if you could get an asset based loan at 60-70 ltv, you would still need 1.5 mil to 2 mil down payment. Also the fees,points, interest and terms of the loan would be so egregious that you wouldn't want the loan anyway.
Back in 2006 (when lending was good) I had araound 90k down (including property), a 820 FICO and decades of experience and I still couldn't get a loan for a 250k restaurant.. The only people willing to "help" me wanted at least 5k for a fee upfront and were talking loans that had 10-15 points and 15-30- percent interest. ( I ended up getting a100k personal loan for low interest and maxed out a few credit cards.)

Nov 25, 2010
Michelle Goebel
Goebel Business Services
Making Business Ownership a Reality.
Pinal County, AZ

Nastasha, I did get your email. In your situation, I would purchase only one of the businesses. You won't get funding for all of them. In order to use the assets of the business you are trying to purchase, you would have to get financials from the current owner to show the lender. Do you have any assets or money of your own to put towards the purchase? This makes a big difference.
Sincerely,
Michelle Goebel
Email: mg@goebelbusinessservices.com
http://www.facebook.com/michelle.goebel1

Nov 24, 2010
Michelle Goebel
Goebel Business Services
Making Business Ownership a Reality.
Pinal County, AZ

Ms. Milan, this business must be highly profitable as that is quite a sum to pay for an e-commerce business. What industry is it? Unless you have some kind of real estate, it will be extremely difficult for you to get a loan that large with no downpayment. An asset based loan is usually 70% LTV. Are you trying to use the assets of the business for your lien on the loan? That could also be a problem. Contact me at mg@goebelbusinessservices.com with more information and I'll see if there is something I can do for you. I can't promise anything.
Sincerely,
M. Goebel
http://www.facebook.com/michelle.goebel1

Nov 24, 2010
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What kind of help is available out there for my situation? Any advice/help would be appreciated.

Nov 24, 2010

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