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What would be the best way to get financing for a Bar/Tavern in this economy?

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Answers (3)
Mrs Jane Gavin

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*Truck Loans
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Thanks for taking your time to read my story

1 hour ago
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Stearns Bank
Business Development
MN

If you want to go the SBA route, let me know. I work for Stearns Bank and we are a SBA National preferred lender. My email is chrish@stearnsbank.com

Dec 21, 2011
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The BAF Group LLC
MD

If the Seller's books are a good representation of the Revenue and Profits, if the Profits are sufficient to justify the price, and if the Buyer has experience in the business, SBA is still your best bet. However, many Bar/Tavern Owners do not report all of their income, but still want the price to reflect what they are hiding from the IRS. In that case, there is no way the SBA or any other standard lender is going to back a loan on a deal that is overpriced relative to the profits suggested in the Tax Returns. In that case, just about the only way to get funding - short of borrowing from friends, family and organized crime members - is for the Seller to take back a note.

Dec 21, 2011