Listing ID: 76354
Colorado owned and operated residential mortgage lender for sale. The company acts as a broker and correspondent banker for its clients and is licensed in Colorado, Wyoming, California, Washington, and Maryland. The business differentiates itself through exceptional customer service, and seamless transactions for its clients. The company continues to enjoy year over year growth fueled by repeat and referral business. This is a great opportunity for another lender looking to expand its footprint.
Asking Price: $5,499,000
Training & Transition: Included in sales price
Reason for Sale: Other business interests
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- Asking Price: $5,499,000
- Cash Flow: $2,423,675
- Gross Revenue: $7,444,570
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 2000
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:16
- Furniture, Fixtures and Equipment:N/A
Office space with 2500 sqft.
The business was established in 2000, making the business 22 years old.
Why is the Current Owner Selling The Business?
There are all sorts of reasons individuals choose to sell companies. However, the real reason vs the one they say to you may be 2 totally different things. As an example, they might claim "I have too many other obligations" or "I am retiring". For lots of sellers, these factors are valid. However, for some, these might simply be reasons to attempt to hide the reality of altering demographics, increased competitors, recent reduction in incomes, or a variety of various other factors. This is why it is really crucial that you not count completely on a seller's word, yet rather, utilize the vendor's solution together with your overall due diligence. This will paint an extra practical image of the business's existing situation.
Existing Debts and Future Obligations
If the current company is in debt, which numerous companies are, then you will need to consider this when valuating/preparing your offer. Many businesses borrow money in order to cover points like supplies, payroll, accounts payable, so on and so forth. Keep in mind that sometimes this can mean that revenue margins are too thin. Many businesses fall into a revolving door of taking loans as a way to pay back various other loans. Along with debts, there may also be future commitments to consider. There might be an outstanding lease on tools or the building where the business resides. The business might have existing agreements with vendors that need to be met or may lead to fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do companies in the area bring in new customers? Most times, operating businesses have repeat consumers, which develop the core of their daily profits. Particular aspects such as new competitors growing up around the area, roadway building and construction, and also personnel turn over can impact repeat customers and adversely influence future revenues. One important point to take into consideration is the location of the business. Is it in an extremely trafficked shopping mall, or is it hidden from the main road? Clearly, the more individuals that see the business regularly, the higher the chance to construct a returning client base. A final thought is the general location demographics. Is the business placed in a densely inhabited city, or is it located on the edge of town? Just how might the neighborhood mean household income influence future revenue potential?