lloyd carroll jr
lawrenceburg, TN (USA)
Role(s):
one stop car sales
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Startup
Location:
lawrenceburg
Industry:
Automotive
Year Founded:
2004
Number Employees:
INVALID
Description:
i own 1/3 of the stock in this company and i am the general manager,my partner who owns 2/3 does not participate in the day to day business. his only function was initial funding and obtaining line of credit. we currently have assets over $1,600,000 and debt of $900,000. i am currently giving up 2/3 of the profit for his personal guarantee on a note.i would like to pursue buying his 2/3 and i do not have the ability to do it on my own. i have no other assets other than my stock in this company.i would be willing to guarantee an investor a minimum of 13% on his money for a minimum of 10 years if i could work out a deal where i could own 90% of the company within 10 years. we are currently paying 8.5% apr on $720,000 and 7% on $180,000.