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SPORTS FACILITY FINANCING IS EASIER THAN EVER
Written by: Tyler HicksArticle Overview: Describes why loans for sporting facilities can be easier to get and what are some of the ways to get such loans.
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Free Download - PRIVATE MONEY IS THE WAY TO GO By Tyler Hicks |
SPORTS FACILITY FINANCING IS EASIER THAN EVER
SPORTS FACILITY FINANCING IS EASIER THAN EVER
DO YOU WANT TO START, OR BUY, A SPORTS FACILITY of some kind? Or do you have a client interested in doing so? If you do, the financing may be easier than you think for:
• Bowling alleys
• Billiard rooms
• Tennis courts
• Golf courses
• Marinas
“WHY IS THIS?” you ask. For a number of good reasons that can help you, namely:
• Lenders know what income level to expect from each type of facility, based on the size of the complex.
• Loans can be based on expected cash flow and a known repayment schedule for the loan at a given interest rate.
• Collateral is available in the form of the equipment used in the facility—such as alleys, billiard tables, docks, etc.
• Actual income can be projected based on the location of the facility, the population of the surrounding area, nearness of competition, etc.
WITH ALL THIS VALUABLE INFORMATION AVAILABLE, it is easier for lenders to make a loan decision because they’re not “operating in the dark.” This means that getting a sports-facility loan for yourself, or a client is easier if:
• Your business numbers are in line with the usual facility.
• You have a short Business Plan for your facility.
• You have some business experience in the field.
• Your competing facilities are not too close to yours.
• You have a reasonably good credit score.
• Your resume and business plan look professional.
EXAMPLE -- BOWLING ALLEY FINANCING
In most cases, the best source for obtaining a loan for a bowling alley is a local bank that is familiar with the business's location and market, If the bank also wants to handle the bowling alley's bank deposits in the future, that's even better. Depending on the situation, the bank may choose to have part of the loan guaranteed by the Small Business Administration. This may require additional paperwork. Sometimes you may be able to find loan sources that are experienced in bowling alley financing. Occasionally, seller of the bowling alley might carry a small portion of the debt to help the borrower qualify for the loan.
Is there an Alternative Solution to Factoring for Canadian firms with working capital Challenges ?
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Why Asset Finance, aka Asset Based Lending is the Ultimate Working Capital Financing Solution to your Business Challenges
Article Tags: bank deposits, billiard rooms, billiard tables, bowlin, bowling alley, bowling alleys, business experience, business numbers, credit score, docks, loan decision, loan sources, local bank, marinas, professional example, repayment schedule, short business, small business administration, sports facility, tennis courts
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About the Author: Tyler Hicks RSS for Tyler's articles - Visit Tyler's website  Click here to visit Tyler's website   How and Where to Get Loans to Build Your Real Estate Wealth by Tyler G Hicks Part III How and Where to Get Loans to Build Your Real Estate Wealth by Tyler G Hicks Part I USE LETTERS OF CREDIT LCs TO GET FINANCING PRIVATE MONEY IS THE WAY TO GO SUCCEED WITHOUT TONS OF EXPERIENCE |
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- Hi ideasuniversity,
I personally like:
8. OUTDOORS HOBBYISTS’ & SPORTS PARTICIPANTS’ USED ITEMS AND EQUIPMENT
because I already sell used (or even sometimes new) tennis gear, but I wouldn't want to bare the high inventory costs. However, I guess I could always simply start up a niche market website to help facilitate tennis gear buying/selling/trading instead.
Re: SEEKING PRIVATE OR ANGEL INVESTOR
- Definitely have a thorough and accurate business plan. In the US, you can get help at SCORE - their website is full of great information and you can check for local chapters.
If you would like a book that has all kinds of great information about financing options - this one is very good ---
HOW TO GET THE FINANCING FOR YOUR NEW SMALL BUSINESS: INNOVATIVE SOLUTIONS FROM THE EXPERTS WHO DO IT EVERY DAY—WITH CD-ROM
This new book will provide you with a road map to securing the financing. The book goes into traditional financing methods and assists the reader in setting up proper financial statements and a proper business plan. It details the differences between debt and equity financing and how and why to use each. Valuation techniques are explained for determining what your business is truly worth. However, the book’s real strength is in explaining alternative and creative methods of financing, such as SBA financing, investor angels, IPOs, limited public offerings and venture capital. Essential resources for finding the detailed information you need are included throughout.
Item # 9780910627559 $39.95
Shri
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