What is the name of your state? Colorado
My husband and I have been trying to buy an existing, successful liquor store. We have been approved for an SBA loan and are ready to go but for the past 3 months the leasing company has been making one demand after another. The first thing they wanted was to have the first and last month of rent (which is normal) an three additional months paid up front to a tune of $38,000+. They would be holding this money indefinitely until we sold the business. We agreed to this, now they want to put a lien on the FFE, inventory and liquor liscense, which means that there is nothing that the SBA can use as a lien.
My issue is that there are other businesses in that shopping center. How can I find out if they were all required to provide the landlord with this extra money up front and if the landlord has the lien on all of their property. Are we being treated unfairly by not getting the chance?
The current business owner wants to sell and we want to buy, but the landlord is not giving us a chance. If we had not had these problems with the landlord, we would have been in this business at the end of November. We have been denied the chance to make $140,000 in December (the busiest month of the year).
Just thought I would check to see if there is anything that I could do.
Thanks,
Christy
My husband and I have been trying to buy an existing, successful liquor store. We have been approved for an SBA loan and are ready to go but for the past 3 months the leasing company has been making one demand after another. The first thing they wanted was to have the first and last month of rent (which is normal) an three additional months paid up front to a tune of $38,000+. They would be holding this money indefinitely until we sold the business. We agreed to this, now they want to put a lien on the FFE, inventory and liquor liscense, which means that there is nothing that the SBA can use as a lien.
My issue is that there are other businesses in that shopping center. How can I find out if they were all required to provide the landlord with this extra money up front and if the landlord has the lien on all of their property. Are we being treated unfairly by not getting the chance?
The current business owner wants to sell and we want to buy, but the landlord is not giving us a chance. If we had not had these problems with the landlord, we would have been in this business at the end of November. We have been denied the chance to make $140,000 in December (the busiest month of the year).
Just thought I would check to see if there is anything that I could do.
Thanks,
Christy
