Brief scenario: Corporation has been in business for just 1 year. Great income of over $680k for the first year, net income of over $400k. Corporation is looking to purchase an 11,ooo sq. ft. commercial building on the main highway just south of the state capitol, renovate the building so that the majority of it is a restaurant / bar / casino (with catering endorsement), and then the other portion of the building will be a salon offering hair, nails, tanning and sauna. Purchase price is only about 60% of value of property, but loan is needed for full value in order to do renovations, buy equipment and have a bit of operating capital for the first couple of months. Loan value needed approximately $1M. Business owners both have prior BK7s that are just at 2 years - credit scores currently in the 600 - 657 range. They had funding from private lendor but that fell out due to no fault of their own. Their deposits in corporate account haven't been much in last 3 months due to project basis of their current clientelle; which is what is causing them difficulty in getting funding...most won't lend because of this...even though annual income average is $56k / month.
I am here hoping to provide them with new ideas they maybe haven't thought of, non-traditional ok. They are open to 10-12% interest with balloon due at 5 or 10 years, amortized over 20 years (double their money in 2 years!), or 2X return paid back at 10% monthly or quarterly, or other ideas entirely. Please provide any insight in comments or email me directly. I am sure they appreciate any assistance!
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