commercial loan without real estate
I represent foreign investors who wants to purchase a restaurant in miami (business only). they have around $800,000 cash in hand and large assets in France, and would like to borrow around $300,000 to close the deal by greg.r_798_522 from Miami, Florida. Sep 24th 2012
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
Since the only thing they are purchasing is equipment and "Blue Sky".. then i doubt they will find any lender willing to lend them the $300K... banks are not in the restaurant business, they are in the money business.. And if there is a default, they really don't want to repo the equipment to sell it off.. If they were citizens of the US, or if they had a partner that's a US citizen, then they could apply for an SBA loan, but outside of that option, you're not going to find they money.. not even hard money, since there is no real estate... I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com
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