A beverage retailer, started in 2016, had a very successful start with a history of strong revenue. The startup business owner couldn’t manage the thriving business and wanted out. Our client, the buyer, had significant credit events and a collateral shortfall, which prevented the client from purchasing the business with a traditional loan.
First Business Bank helped its client to purchase this business with an SBA 7(a) loan that included 5% financing from the seller, a 15% down payment from the buyer, and 80% from First Business Bank. The 10-year loan terms also waived some traditional demands that would have been too costly for the buyer to accomplish and thus sink the transaction.
"This is a great opportunity and I am glad we could help. First Business Bank really worked with the client and the seller to make their dreams happen. The actual revenue is there, and the buyer is strong despite a few isolated credit problems. We are really happy we helped this client FULFILL THEIR DREAMS.”
Let’s talk. Contact your First Business representative today or visit Specialty Finance.
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