Deal: Bridge Funding for Motor Scooter Import/Dealership Company
DescriptionMy client is getting loans of $10M to $15.2M but needs bridge funding of $500k to cover the purchase of some motor scooters to present to dealers to get orders. Once he gets orders, he has an in place credit facility of $20m to cover the lines of credit he needs to buy the scooters. He has a city in CA which is offering him all kinds of tax breaks and incentives to open an assembly plant to create jobs. He has patents on the specifications of his scooters. The profit margins to dealers are the highest in the industry. My client is involved in starting up a motor scooter import business where he will be acquiring a building to do light assembly of the scooters after importing scooters and parts mostly from the largest manufacturer of motor scooters in China and then selling them to dealers. He has been in this business before in Canada and as an engineer with many patents for his products is very well versed in all aspects of this business to run it. The city in CA has invited him in to set up his business there to help create jobs. He is getting all sorts of tax breaks and help to get a SBA and other loans, including some equity funding of $2,500,000 from some private investors to fund his business including guarantees from the State Treasury office. With all these funds, he will be acquiring a building to serve as an assembly plant and manufacturing facility in CA for distribution of scooters in the North American Markets , Australia and New Zealand?, Canada and Hawaii. Please request the deal for more info.
AssetsCompany (selling a company, seeking funds for a company, investing in companies)