Turf Business Partial Buyout

searcher profile

September 25, 2024

by a searcher from Lubbock Christian University in Decatur, TX 76234, USA

I've got a verbal agreement in place on a Turf business that I am looking to buy into that is currently doing ~3m in revenue with about 38% margins. Owner was wanting to sell but our plan to keep him on board and scale to 3x+ his current numbers have him on board to keep running things and bring myself and my partners on as equity partners. We plan to buy him out over the next several years so all 4 partners will eventually end up at 25% but initially we are buying 20% for $1m. We can have that repaid in###-###-#### months. This deal won't go SBA funding and we aren't looking for equity as our equity would be diluted and the returns we could provide wouldn't be attractive to an investor. Looking for a short term loan product that could get us around the 750-800k in funding we need. I just learned that I can't use my personal homestead in Texas as collateral so seeing if there are any lenders out there who would be willing to do an unsecured loan for 750-800k. Anybody offer this type of product that can help us out?
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commentor profile
Reply by a lender
from Eastern Illinois University in 900 E Diehl Rd, Naperville, IL 60563, USA
We would love to have a discussion to see if we can assist you in financing this transaction. You can reach me here or directly at redacted
commentor profile
Reply by a lender
from Rider University in Bloomfield, NJ, USA
If you have Not acquired your funding, please let me know so we can discuss options?
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