I own a busy golf cart sales and repair business in north Palm Beach County which has tripled in business since 2019. We have endured Covid, and supply chain issues and economic conditions. During the Covid years, we were forced to take out some undesirable financial products to keep the business moving forward. It was a gamble, but we survived and are now close to thriving, but have been hampered by the cost of our loans. We have never missed on a loan payment, but have had to restructure with the lender once to alleviate some stress. We can easily make over 25,000 dollars a month in payments, but that is too much of a a strain. I would like to cut the monthly payments by 66 percent and just have a longer term for investors. We are not against a strategic investment partner, but preference is just for a restructured loan.
We sell new and used carts, with the majority of our business in new sales, but do quote a bit of refurbishing all thru the year. We employ 5 people and service and repair most makes and models. We are very diligent in the care we take with each customer and never overpromise or under deliver. We have customers in all the top country clubs, also HOA’s, individuals, high net work estate properties and just about anyone else. We have a unique business in that we will sell new and used and repair and refurbish carts from the 80s up until now. Our plan is to lower monthly debit and people to focus on next phase of development. It is our wish to have multiple locations and be able to purchase our own building within the next 3 years. Based on the population increase in our area, this is not a business that will see a significant drop off anytime soon.
In summary, we would like to pay off $200k+ existing financial product and take in some additional working capital. We can structure as a term loan and pay as much as $13,000/month.
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