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Looking for Finance to buy Liquor Store. Have 80% need only 20%.

I am planning to buy a liquor store in NY. I have 80% of the total amount and only need 20% of the total amount asked by the seller. Please guide me on best possible way to finance this amount. Are there any banks still lending.

Regards,
T Patel

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Answers (8)
Mrs. Elizabeth White
Washington County, FL

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3 hours ago
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Biz2Credit LLC
New York County, NY

A lot of factors go into qualifying a for a business loan. Lending institutions scrutinize a business owner's personal credit, business credit, location, industry, years in operation, assets and cash flow differently. The best way to search for financing is to enter you information on www.biz2credit.com. If you meet the general criteria of a lender or a bank on the system, you'll be matched with them. If you don't meet any of the lender criteria, the system will educate you as to why you didn't fit the criteria and what you can do to qualify in the future. It's a great system and it's free. Good luck.

Mar 22, 2010
Michelle Orr
Wells Fargo SBA Lending
Business Development Officer
Fairfield County, CT

The loan amount available will depend on several factors. What is the purchase price and assets included in the sale. If there isn't real estate the best product would be SBA financing. It depends on the amount of goodwill included in the sale as to the loan amount available. If goodwill exceeds $500K, the SBA requires 25% down, which can be a combination of buyer cash and seller financing.
Hope this helps. Please contact me with any questions.

Mar 14, 2010
Patrick Parks
Ural Patrick Parks-ICG
"Helping Struggling Companies Thrive Everyday"
San Diego County, CA

My name is Patrick Parks and my company lends money against stock portfolios; up to 70% LTV, non-recourse with no credit score requirements and rates that range from 4% to 6% for terms between 3 and 5 years.
Funding is in 5 days.
My company lends on any publicly traded stock as long as there's sufficient volume. It doesn't matter what exchange - New York, London, and Nikkei - as long as it's traded publicly and has volume to justify its price.
My company funds its own transactions. There is no waiting; once an approval is in hand the transfer is then made. Period! Done! What's the value to knowing if you meet the simplest of terms? Basically, with a publicly traded stock that has sufficient volume to justify its price you'll get a loan in 5 days.
When a transaction comes in and the stock is free trading and has no hair on it, the loan will be approved. Even penny stocks that have huge volume can be borrowed against. If you refer someone to me the deal will fund! And in today's economy, where long term banking relationships are unreliable, if you have publicly traded stock then getting funded is SIMPLE with me!
You cannot borrow against retirement funds or your 401k. And if you're a day trader you can't borrow on that portfolio. An interesting thought though, is one could get into longer term stocks leveraging the borrowed money in day trading, or lending the money at 12-18% in today's lending environment, or buying distressed properties. The sky is the limit.
If you know of anyone who might be interested please refer them to me. For those who have stocks that are underwater, would have serious tax consequences from selling stock, or can't borrow money because of credit, it's an amazing tool. The fact it funds in 5 days, at market interest rates, makes it almost unbelievable.
In this economy, the appeal is to those who need money now and have stock they are holding that can be borrowed against and used to pay bills, build out a project, or make other investments.

. Need money for a construction or building project, up to 100 million dollars? Again, if you have publicly traded stock the deal is done. Five days after I get the information and give you a quote, you will have funds in the bank.
. Need money to invest in your business? Need 750k, 1,000,000.00, 2,000,000.00? If you have publicly traded stock, no matter how good or bad your company is doing, the stock is the collateral. No credit requirement. Money in 5 days. If you're using your company stock and it's on a downward trend that may impact the LTV, get me the info and I'll get you a quote.
. No matter the need. If you have stock, that's publicly traded I'll get the deal done.
Most important, there's no limit to the funding amount. The better the stock, the higher the LTV. Regardless of the amount, the COMMITMENT IS MADE WITHIN 4 HRS of a deal coming in and funding will be within 3-5 days.

Just email the amount of funding you seek and a list of your assets that include your publicly traded stock(s) and/or mutual funds to mpparks@gmail.com for review.
Should your information meet the criteria, you will be contacted with a quote within 4 hours. Be sure to include your contact information and the best time(s) you may be reached.

Dec 1, 2009
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please visit scorefocusllc.com to get the 20%

Sep 11, 2009
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Small Business Underwriters
Founder

With that much of down payment, financing the remaining 20% should not be difficult. But as another poster asked, you should ask the seller to hold the remaining 20%. That ensures that they will stick around during the transition of ownership.

Aug 6, 2009
Satish Patel
Sunbelt Business Advisors
Middlesex County, MA
Premium Broker

Tushar, Hello
You have many options if you only need 20%. You could try your local bank, their business bank or ask for seller financing. Seller financing is probably the fastest and easiest way to secure the transactions without third parties. However considering you investment level I don’t foresee a challenge securing either a loc or a small loan with working capital to bridge the 20% difference between your down payment and total purchase price. Please call me at 617-945-5338 or email me at mandoni@sunbeltne.com to discuss the seller financing option or for referrals to our lending sources.

Thank you
Mariola
Senior Business Broker,
www.sunbeltne.com

Aug 5, 2009
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How to Buy a Business
WA

Are you saying that you are putting 100% down at closing? Did you not ask for some seller financing? Seller financing is pretty much a given. And when you consider that it's a buyer's market, you should have gone for as much as possible.

Jul 20, 2009

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