Lonny Coover
Orlando, FL (USA)
Role(s):
Select
Nouveau Biz
Find More Startups
Startup
Location:
Orlando
Industry:
Retail/Clothing
Year Founded:
2009
Number Employees:
1-10 people
Description:
Hello, I am in the process of finalizing the agreement with a worldwide franchise for a tanning and spa franchise with a prime location secured in the Orlando, Fl area. I am looking for a group or individual to be a silent partner and be co-applicant on a 350k loan which would be 50% conventional, 40% SBA 7a, and 10% cash down (funded by me). The annual gross sales are estimated at 400k+. I am a C Corp and am only looking for the equity financial backing (no cash investment) to secure the loan and in return I could provide a percentage in the corporation profits until loan is paid. My personal situation with lack of sufficient collateral and reverse equity in my home is making the bank very uncertain I can secure on my own. I will have a business plan complete within two weeks as the franchise corporation is assisting with the plan and pro forma. Please reply with best way to contact you if you feel you would be interested in backing the loan with me. The bank says it may be possible to structure the loan to minimize your liability also.