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Fantastic Mortgage / Home Improvement Lender
Location: United States -> South Carolina -> Charleston
Industry: Professional Services > Other Professional Services




Business Summary

Since 1972, this business has been Charleston's premier lender for 1st and 2nd Mortgages and Home Improvement Loans, as well as Rentals, Land, and Commercial loans. The business does their own lending, and receives many referrals from Real Estate agents in the area. From 45 years in business, the company has a large roster of longstanding and loyal clientele.

Typically, the business will do home improvement loans for up to $25k, for up to 15 years. Their interest rates range from 12-16%, and they only go up to 50% of the asset value.

A Fantastic Reputation, Prime Location, and 45+ Years in business make this a Tremendous Opportunity for any interested acquirer!
Attached Documents
Non-Disclosure Agreement

Detailed Information
Inventory:Included in asking priceReal Estate:LeasedBuilding Sq. Ft.:N/ALease Expiration:N/AEmployees:2Furniture, Fixtures, & Equipment (FF&E):Included in asking priceFacilities:The modern facility that houses this business is a 700sqft. office space in a retail shopping center. The facilities include a reception area, payment counter, a conference room, a private office, a restroom, and a break room. Physical assets included in the sale are as follows: 2 computers, 1 fax machine, 1 copy machine, 3 desks, a conference table with chairs, and all filing cabinets. The facilities are currently on a monthly renewable lease for $750/month.

Competition:There are NO local competitors because this is the ONLY mortgage company in Charleston that offers their financial services. The business has a Prime location, in the West Ashley area, right off Savannah Highway. From 45 years in business, the business has earned an excellent reputation locally, and has a name that is well known and respected in both the market area and business arena.Growth & Expansion:The business has never done any advertising and relies on word of mouth accolades alone. Investing in advertising could easily generate new business and increase revenues...


Financials

Asking Price Range:  $1.0M - $2.5M
Gross Revenues:   $177,232
Cash Flow:   Seller Will Provide
Cash Flow Type:  EBITDA
Inventory:  $1,282,500
Seller Financing:  Not Disclosed

About The Business

Year Established:  1972
Number of Employees:  1 - 3
Relocatable:  Not Disclosed
Franchise:  Not Disclosed
Current Real Estate:  Leased
Property:  Property For Sale

About The Sale

Management Training and Support:  Currently, the business has 1 active full-time employee and three business owners. The business has staff and management in place to help a new owner successfully manage the transition, and to provide continuity after the owners' departure that clients know and trust. The business owners are willing to remain involved for a 3-12 month post-sale tra
Reason For Selling:  Retirement/health issues

Photos

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Fantastic Mortgage / Home Improvement Lender Photo 1




Print Listing Id: 700271209
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Also See: Franchise Opportunities > Franchise Resales > South Carolina Businesses For Sale > South Carolina Franchises For Sale > South Carolina Business Brokers



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