Seeking $10M in Funding to Acquire Small Bank
Group seeking funding to acquire a small US Bank. The group plans to get the MDI certification and currently in talks with 3 regional banks to get a commitment letter to make investments & deposits through the Minority Bank Deposit Program post acquisition.
- The group has 44K pre-sign up and all of the prerequisites for the acquisition including the 4% corporate tax grant.
Investors/Lenders will receive 8%-10% annual ( return/interest ) with the group's plan for a cash out in 5-6 years.
USE OF FUNDS - Purchase price at $4M and $500K for regulatory & legal fees. $6.5M operations
( run rate for 3-4yrs )
Team background- The team has wide range of financial & entrepreneurial experience in the Mortgage banking, financial planning, Forex trading and commercial real estate.
Financials (USD)
Amount Sought $10,000,000
Type Sought Other
Use of Proceeds Other
Deal Terms
Offering Memorandum Or Prospectus Available? Yes
Willing To Pay Finders Fee? Yes
Willing to Co-Broker? Available On Request
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