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Pharaoh
1 Posts |
 Posted - 08/07/2008 : 1:01:19 PM
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I have a client that has everything in place, except he doesn't have the capital for a normal commercial loan. He is seeking $2.5 million dollars for two comedy clubs, one of them has been open for 28 years, and the other is for the purchase of a nightclub and renovate into a comedy club.
Willing to pay the entire loan off in ten years, at 7.125. |
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Scott Appleg8
40 Posts |
Posted - 08/07/2008 : 3:14:47 PM
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How strong is the borrower? What does there personal financial statement look like?
Please contact me at:
Scott Applegate
614-975-8478
scott.applegate@unitybank.com |
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ML
2236 Posts |
Posted - 08/07/2008 : 3:31:52 PM
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quote:
Originally posted by Pharaoh
I have a client that has everything in place, except he doesn't have the capital for a normal commercial loan. He is seeking $2.5 million dollars for two comedy clubs, one of them has been open for 28 years, and the other is for the purchase of a nightclub and renovate into a comedy club.
Willing to pay the entire loan off in ten years, at 7.125.
Welcome to the BO, the best you'll get in this day and age is 50% LTV. Couldn't have picked a worse time to open. Are you a mortgage professional? Website is dubious? Or should I say Doobie-licious? |
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dwallace
506 Posts |
Posted - 08/07/2008 : 4:12:13 PM
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Earlier this year we got approved a 90% construction/permanent loan for a comedy club/restaurant. The borrowers had already had a successful operation, it was earlier this year and credit has changed so I can't promise we could get the same terms.
If the borrowers have great management experience, good credit and good financials we may be able to help.
Send me an email with more details. |
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