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.

 Mail this postStumbleUpon It!

August 29, 2009 | Filed Under Equipment Leasing Questions 

comments

3 Responses to “Businesss line of credit. I have fair credit. Is there a lender?”

  1. crest_capital on August 29th, 2009

    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.

  2. phillip w on August 29th, 2009

    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

  3. Sales D on August 29th, 2009

    for the security system, go to http://www.techcctv.com or give them a call they can help

Leave a Reply




Powered by Yahoo! Answers