Hank Boone
Virginia Beach, VA (USA)
Role(s):
Other
TBD
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Startup
Location:
Virginia Beach
Industry:
Telecommunications
Year Founded:
1996
Number Employees:
1-10 people
Description:
I am looking for angel financing for the purchase of a pay phone and coin operated vacuum business that has been in operation for 12 years. The company has no debt and sales of approx 300k with net income of 200k. The sales price is 495k. The current owner will take back a note for 100k. I am putting 100k into the deal. I need 300k in financing for the purchase. I will pay 10 percent interest and looking for a term of 7 years. Will consider setting up as debt financing or preferrred stock offering.