Description
SOLD ‘Q3 2022
Portable Collections Agency $6MM Judgment Portfolio Included
Los Angeles, California (Los Angeles County) (Relocatable)
Seller Financing Available if the price and deal structure is right.
Asking Price:
$250,000
Gross Income:
$263,000
Cash Flow:
$110,000
EBITDA:
N/A
FF&E:
$0.00
Inventory:
N/A
Real Estate:
N/A
Year Established:
1958
Employees:
N/A
Business Types:
Finance, Banking, Loans, etc.
Agents & Brokers
* included in the asking price
Business Description
This portable collections portfolio has about 5,000,000 +/- of collectable accounts on the books that are 0-4 years old. A portion of the accounts are also part of a roster of 300+ judgments for an additional $6.6MM as well. The judgments carry interest at 10% per year, all of them can be renewed, over and over, so in ten years this block is worth $12MM!!! The clients were very selective on whom they pursued, with only those debtors most likely to be paid as the ones selected. Clean operational history, no legal issues, C-corp. entity so ideally a stock sale would be best for tax efficiency purposes but we can deal with that later per Buyer preference if that’s a sticking point. NDA is required for internal report analysis, financial due diligence package, and the opportunity to do a conference call with the Seller. NDA is required {SUBMIT BELOW} for Executive Summary on file with ProNova Partners.
Detailed Information
Facilities:
Relocatable nationwide.
Competition:
Collections is a tough business mentally, however, the Seller has implemented a system within the collections space that treats people with dignity, gets the account squared away, and results in a profitable enterprise.
Growth/Expansion:
Existing replicatable template in place to be scalable for a more motivated owner operator. Other opportunities could be nurtured by someone with more enthusiasm for the business took over.
Financing:
If the price and deal structure is right.
Support/Training:
As needed.
Reason Selling:
Retirement.