poppystar7
New member
I have 3-4 YOE in the service industry but different field(Pest control) I am really looking into making a switch to being my own boss. Currently work as a Software Engineer and I’m tired of stressing over layoffs that seem to happen at random.
Current credit score is fair.
What do I need to know regarding a loan?
Asking price: 1.25 mil
Cash flow: 400k +
Gross revenue: 2.4 mil
EBITDA: 400k +
FF&E: 225k
Inventory: 100k*
Established 2004
Employees:10+
Financing:Seller will offer $350,000 / 7% / 5 Years.
4 week franchise training
Reason for selling: Retirement
This is only 1 I am looking at but a 2nd one I’m eyeing(non-franchise) is at these numbers
Asking price: 725k
Cash flow: 320k +
Gross revenue: 1.3 mil
EBITDA: N/A
FF&E: N/A
Inventory: 24k
Established 2008
Employees: 5
4 week training with owner
Reasons for selling: other
What can I do to improve my odds of being approved for a small business loan?
Current credit score is fair.
What do I need to know regarding a loan?
Asking price: 1.25 mil
Cash flow: 400k +
Gross revenue: 2.4 mil
EBITDA: 400k +
FF&E: 225k
Inventory: 100k*
Established 2004
Employees:10+
Financing:Seller will offer $350,000 / 7% / 5 Years.
4 week franchise training
Reason for selling: Retirement
This is only 1 I am looking at but a 2nd one I’m eyeing(non-franchise) is at these numbers
Asking price: 725k
Cash flow: 320k +
Gross revenue: 1.3 mil
EBITDA: N/A
FF&E: N/A
Inventory: 24k
Established 2008
Employees: 5
4 week training with owner
Reasons for selling: other
What can I do to improve my odds of being approved for a small business loan?