NoteMarket

BUSINESS NOTE MUST SELL

Surface Engineering Business Note

CashFlow: BusinessNote
Have_Contract_To_Buy_Or_Broker: Yes
Name: Eli C. Fry
Company: American Capital Resources
Phone: 916-721-8107
Fax: 530-210-0340
Email: american@efwd.com
Type_of_Business: Surface Engineering Business -- selling rock, gravel, and sand materials to many large companies.
Document Note: Yes
Document Security Instrument:
Document Title:
Document Sales Contract:
Document Credit Report: Yes
Document Closing Statement:
Document Bill OfSale:
Document Insurance:
Document Lease: Yes
Document Franchise Agreement:
Document UUC-1:
Asset_Value_Breakdown_Equiment:
Asset_Value_Breakdown_Inventory:
Asset_Value_Breakdown_Goodwill:
Is_Operation_a_Franchise: No
How_Long_In_Business: since 1958
Business_Location: Leased_by_Payor
Business_Location_Lease_Expires: 2049
Date: 3/27/00
Time: 2:10:36 AM

Comments

A full summary and all of the applicable information is online at a hidden website URL:

http://www.efwd.com/american/files

But below are some of the basics...

Note position: 1st Original TOTAL sales price: $2,445,000 Note balance: $932,100 (including interest payments) Interest Rate: 7% Date of Purchase: 1/98 Down payment: $1,445,000 in 1998 and another $175,000 in 1999

The 1st 50% of the business was sold at the end of the year in 1997. $200,000 was given on signing, with another $1,245,000 given on Jan 5, 1999. This left the note holder with 50% of the company.

This left a remaining value of $1,000,000 for the 2nd tier (2nd 50% purchase). On Nov 18, 1999 a payment of $175,000 was made, leaving $825,000.

This is where things presently stand.

There are only 4 amounts remaining to be paid on the note. On Nov 18, 2000, a payment of $60,000 will be made. After this $60,000 payment is made, interest will be calculated annually at 7% on the remaining balance of $765,000. On Nov 18, 2001 a payment(interest only) of $53,550 will be made. On Nov 18, 2002 another interest payment of $53,550 will be paid. Then on Nov 18, 2003 the balance of $765,000 will be paid.

I've pulled 3 recent credit reports on the Payer (Experian, Equifax, and TransUnion) -- I can send you those. The Payer has over a 700 credit score. His net worth is over $30 million.

I've got a summary, some personal financial statements, and some financial statements of his other businesses as well. I've also got a financial statement of the seller as well. You may or may not have a use for it, but I have it.

I would appreciate it if you could get me a quote. The seller is pretty anxious to close, so do what you can.

Thanks,

Eli Fry

CashFlow: BusinessNote
Have_Contract_To_Buy_Or_Broker: Yes
Name: Tony Davies
Company: personal
Phone: 914.483.7585
Fax: 914.483.7587
Email: doortech@idsi.net
Type_of_Business: industrial hardware
Document Note: Yes
Document Security Instrument:
Document Title:
Document Sales Contract:
Document Credit Report:
Document Closing Statement:
Document Bill OfSale:
Document Insurance:
Document Lease:
Document Franchise Agreement:
Document UUC-1:
Asset_Value_Breakdown_Equiment:
Asset_Value_Breakdown_Inventory:
Asset_Value_Breakdown_Goodwill:
Is_Operation_a_Franchise: No
How_Long_In_Business: 111 years
Business_Location: Owned_by_Payor
Business_Location_Lease_Expires:
Date: 14 Dec 1999
Time: 09:00:06

Comments

I have a withdrawal agreement with a privately held small business. I must sell it to create cash flow for my new business. The remaining principle is $231,734.00 payable quarterly at 9% for 15 years (55 payments remaining). Payor is very solid established industrial hardware store in business at same location for 111 years. They are not affected by local Home Depot or Lowes because of their superior service and large inventory selection. Please contact me if you are interested or if you have any questions.

Last changed: February 19, 2009

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