Loan amount
$18,000,000
Loan type
As-Is Property Value
$20,000,000
LTV
90%
{LTV}
Property type
Construction company
Borrower Details
Credit score
619
Deal experience
20 deals
This loan scenario was submitted by a Broker
Property Details
State
Michigan
Loan Details
Additional Loan Information
Looking to acquire an earth moving company. Purchase price $20M; we are getting that down to around $17-18M. Sellers equity 20% the rest financed. We are an acquisition company that just started up, full board in place with top tier talent. Not under contract yet, soon. We are performing DD. With cash flow around 4 million we would be on board with 2.5-2.9 million per yer in payment structure. The company has 19 million in assets, 20 million in revenue, 19 million in backlog, we are keeping their board in place (same board for 20 years) our exit strategy is taking it public in 6 years.
Status
Closed
Created
May 3, 2020 - 9:07am
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