Incredibly profitable Consumer Finance Lender with 55% net to owner! Title-loan Company in Southern California has the most profitable yet straight forward business model that I have witnessed in my 16 years as a business broker. This company does 1250+ loans per year on cars that are verified to be owned free and clear, holding automobile title as security. Loans are never larger than the Manheim Automobile Auction tracking value. Hence, all loans are completely secure. Payments are received 2 times per month from each borrower to stay current. Cars are insured by the loan borrower and it is verified that they stay current. GPS devices are installed on the vehicles in case the borrower misses a payment. Outside repossession services handle it from there when necessary. Sales and profit have been very consistent for the last three full years. With 43 field locations feeding loans to the company, the company generates 65% of the loans remotely. More locations can be added to generate a higher return if the Buyer so desires. The sale includes approximately $4,200,000 of collectible loans and fees (accounts receivable) that is on the “street”. Seller has 20 years of experience in this industry and is ready to retire. Buyer must attain a “Finance Lender” license from the California Department of Corporations. This will require a background check on the Buyer, performed by the state. Seller is willing to consult with the Buyer on a part-time basis for a mutually agreeable period of time and terms into the future at Buyer’s request but is ready for the benefits of retirement. This is a rare opportunity so time is of the essence.
Listing ID: LA03987
Asking Price $8,000,000
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