Using an SBA Loan to Finance a Bowling Alley and Arcade

Hi Beau,
I live in Colorado and have the opportunity to purchase a bowling alley business with the real estate. It has a decent size arcade and snack bar. The seller wants $850,000 for the business and real estate. I have been going to the bowling alley since I was a kid and have great memories here. I work in IT and would love to own my own business. The property does need some updating and I have some cool ideas to bring in more revenue by adding some pool tables as there is a good amount of un-used space. I’m figuring about 200k for updates and $75,000 for pool tables and the build out of that area.

How would you go about financing this venture?

Thanks,
Terry

Timestamps
[00:54] What’s your option if you want to limit the out-of-pocket or the equity injection?
[01:04] Do an SBA 7a to build in the purchase price, working capital, and employee’s compensation to become your total project cost
[01:19] What do you need to initially do?
[01:27] Does the seller wants to provide three years of their business tax returns in an interim year-to-date statement?
[01:58] The best way to go
[02:18] Building in the working capital for the first few months to get you going
[02:41] Lots of options with the SBA 7a

If you'd like to ask me a question about real estate, do it here -- https://sbaloans.blog/meeting

Are you a real estate investor or business owner looking to expand? Book a discovery call with Beau to learn all the ways he can help you - https://investorfinancingpodcast.com/rumble

💥 Thanks for watching 💥
#financing #realestate #sbafinancing

_________________________________________________________________________________________________ About Beau: Beau Eckstein is a real estate entrepreneur, TV personality, and commercial mortgage advisor, specializing in construction financing and multi-family lending.
_________________________________________________________________________________________________

🎥 The video interviews we do on IFP will help you scale your real estate business and learn how to finance all your projects.

About the Channel: Want to structure your investments in the right and secure way?

Learn great insights and make the right decisions through the Investor Financing Podcast hosted by Beau Eckstein.