An older center had been closed for several years but the building was still in good condition. My client wanted to reopen it.
Since the center was closed, there was no cash flow to show the bank to support the loan request. The buyer did not have any bowling ownership/management experience.
Although the buyer had not owned or managed a bowling center, he did have good management experience from running a business in another industry. His other business showed very strong cash flow, which the bank was able to use to support the loan request. They loaned enough money to buy the building, remodel it into a modern bowling center, and to replace all of the outdated or missing equipment.