A former consultant and Harvard Business School graduate with extensive experience in managing large businesses wants to purchase a renaissance theme park. The business is 28 years old with a strong cash flow.
The entrepreneur needed to value the business and finance the acquisition.
Biz2Credit reviewed the financial statements of the business and the personal financial statement of the entrepreneur. After understanding the nature of the business, Biz2Credit recommended that the entrepreneur conduct an appraisal of the business's going-concern value and apply for a loan through the United States Department of Agriculture's (USDA) business and industry program. The entrepreneur received a loan for 75 percent of the business price. Additionally, Biz2Credit suggested the seller to provide 5 percent as a seller note.
The entrepreneur received a loan for 75 percent of the business price. Additionally, Biz2Credit suggested the seller to provide 5 percent as a seller note.
"Biz2Credit was the biggest, biggest part of my success here. Biz2Credit came in like a lifesaver," she said
"I'd give Biz2Credit a 15 out of 10. Joe, my funding specialist, does a great job. He's always on point and really understands my business. Every time I've worked with him he's come through for me in a big way
"The turnaround time for funding was quick with Biz2Credit," Raza told us. "As soon as they got our information we had a decision - there was no waiting period like I experienced with other lenders."
Raza and David Bolos