I currently work for a company who is thinking about selling out one of their stores. This store is in one of the most upscale neighborhoods in Michigan, it has the potential to be a gold mine but it has been severely neglected the last few years and with a little TLC and business sense(which the current owner lacks) the store will immediately have an increase in profits and revenue.
The problem is that I`m 20 years old and do not have much collateral at all, though the business is profitable and making around 175k/year in revenue, with 50k+ in collateral worth of equipment. I don`t have bad credit, infact I always pay early on all my payments(car loan, insurance, phone bill, credit cards, etc.), though I doubt this is enough to secure me the kind of loan I need.
What kind of options do I have? Any suggestions? If more details are needed let me know.