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Businesss line of credit. I have fair credit. Is there a lender?
MY HUSBAND & I WANT TO TAKE OVER AN EXISTING RESTAURANT. THE LINE OF CREDIT WOULD PURCHASE THE COMPUTERS, SECURITY SYSTEM (CAMERAS & MONITORS), FURNISHINGS, DINNERWARE, FLATWARE, ETC. THE BUILDING AND EQUIPMENT IS LEASED. THIS SEEMS LIKE IT WOULD BE EASY. BUT IT HASN’T BEEN. PLEASE POINT US IN THE RIGHT DIRECTION.
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August 29, 2009 | Filed Under Equipment Leasing Questions
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3 Responses to “Businesss line of credit. I have fair credit. Is there a lender?”
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Questions|Answers
- Wildcat on Do you think apartment complexes should be sued for failure to provide services aside from maintenance?
- Mr Placid on Do you think apartment complexes should be sued for failure to provide services aside from maintenance?
- Common Sense on Do you think apartment complexes should be sued for failure to provide services aside from maintenance?
- Designer Dogs are fancy mutts on Do you think apartment complexes should be sued for failure to provide services aside from maintenance?
- chatsplas on Do you think apartment complexes should be sued for failure to provide services aside from maintenance?
- Ranger4402 on Do you think apartment complexes should be sued for failure to provide services aside from maintenance?
- pickmefirstplz on Do you think apartment complexes should be sued for failure to provide services aside from maintenance?
- the kid on Do you think apartment complexes should be sued for failure to provide services aside from maintenance?
- magicbird on Do you think apartment complexes should be sued for failure to provide services aside from maintenance?
- rpg on What kind of bankruptcy options?
- rhsaunders on Net present value?!?!?
- in the China Shop on I want to open a restaurant?
- Sam San on I want to open a restaurant?
- Henry on I want to open a restaurant?
- Metal M on What do you think about my business idea…could this work?
Before you sign anything - you should verify that you can assume the leases on the building and the equipment.
Most leases have a clause prohibiting transfer. Assuming you have equal or superior personal credit to the current owners - you probably have a good chance the lender(s) will agree to allow you to assume the leases - but get that approved in writing beforehand.
yes most people use there local bank.
the line of credit depends on what it is for and
how you make your busines work. you hafto have
it in black and white, and be able to how you plan to repay it.Most of the time the money is used as start up.you hafto have somthing to put up to
be used as colatiora.Lease on your house.
I wish you the best of luck.
THAT’S A WRAPP
for the security system, go to http://www.techcctv.com or give them a call they can help