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Updated about 8 years ago on . Most recent reply

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Tom Corriher
  • Vale, NC
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USDA versus hard money

Tom Corriher
  • Vale, NC
Posted

USDA loan for 4.75m to buy an existing company where buyer is kicking in 20% needed for a stake in the company he is selling to. Bank says 3 partners do not have enough liquidity and they have ask for 500k and another partner with deep pockets.  My question is should I dump usda and try for hard money?

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Stephanie P.
#5 Mortgage Brokers & Lenders Contributor
  • Washington, DC Mortgage Lender/Broker
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Stephanie P.
#5 Mortgage Brokers & Lenders Contributor
  • Washington, DC Mortgage Lender/Broker
Replied

@tom corriher

@Tom Corriher

What type of property is associated with the existing company?

Stephanie

  • Stephanie P.
  • Loading replies...