Banks have traditionally been reluctant to lend to the bowling industry, citing its’ special purpose buildings and problems getting adequate value when liquidating equipment collateral. Despite these concerns, the bowling industry can offer lenders high quality borrowers with an above average record of success. For example, a recent report from the SBA showed that the bowling industry had a charge off ratio of 1.23% over the previous ten years which ranked it 67 out of 623 industries with ten or more loans. Underwriting with solid industry data and an experienced advisor can help make the financial portion of a transaction easier and less risky.
Ken Paton has been the most trusted financial advisor to the bowling industry since 1998. During this time, he has negotiated more than $160,000,000 in new financing for bowling centers and helped 42 buyers and sellers to successfully work through a change of ownership. He has also worked with borrowers who struggled to make timely mortgage payments as well as lenders needing help to restructure their bowling debt.
Ken holds a Bachelor’s degree from the University of Washington plus did graduate work at Lewis and Clark Law School in Portland, Oregon. He was a Certified Public Accountant for twelve years and has been a licensed Oregon real estate broker since 1985. Ken presented seminars at Bowl Expo, the East Coast Bowling Centers Convention, and the West Coast Bowling Convention plus wrote articles for Bowling Center Management magazine, International Bowling Industry magazine and for the RMA Journal.
For a free consultation on the bowling industry or a single center, call or email Ken.
11389 NW Ridge Rd.
Portland, OR 97229