Ben Lawrence
Scottsdale, AZ (USA)
Role(s):
AHMCC
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Startup
Location:
Scottsdale
Industry:
Banking
Year Founded:
1996
Number Employees:
INVALID
Description:
To Whom It May Concern:
I am in the process buying a check cashing business thru acquisition and as with most new business ventures a problem has come up and I am looking for a solution… The business is being sold for 300k, which I have the ability to pay out of pocket, but apparently I need access to cash inventory which is going to present a problem. My business partner and myself felt that with our credit and net worth getting a loan for the cash inventory would not be an issue but apparently it is…
The business cashes 500k in checks every week and I do not have 500k available to cash checks. Between my business partner and myself we do have some assets that we could pledge as a form of indemnification but we ideally need a line of credit that we can access every Friday and