How to structure an note ? please help! - Posted by Natasha(Md)

Posted by Daivd Alexander on May 02, 1999 at 15:12:27:

I doubt that there is an Industry standard. Your offering financing so you should be able to command top dollar, and interest rate. I’m sure that if they could go to the bank they would, so that they could get a better interest rate. You might also ask for other security than the equipment, because used equipment is generally sold for 10-50 cents on the dollar for cash.

David Alexander

How to structure an note ? please help! - Posted by Natasha(Md)

Posted by Natasha(Md) on May 02, 1999 at 09:39:56:

As a landlord of a small commercial property, my tenant abandoned their trade fixtures which now is my property. A nearby cafe has interest in the restaurant equipment and wants to purchase it by using a note. Is their an industry standard for business equipment regarding rate, term, etc. Would it be structured like Lonnie’s Mobile Home deals? The price is around 10k of equipment. I want to get the equipment out so I can rerent the space to another business. Any advice will help as I have a meeting on Monday. Thanks in advance.

I dunno… - Posted by Sean

Posted by Sean on May 02, 1999 at 17:22:52:

But I say offer it to 'em at $10,000, 15% interest, 20% down, 12 payments of $722.07.

This is right off the top of my head, but it seems reasonable to me.

Another tip is the old maxim you might want to let them make the first offer and go from there.