LIQUOR LICENSE LOANS
Can You Finance A Liquor License in Florida?
The answer is yes. Liquor License Professionals offers liquor license financing services to buy a liquor license in Florida or refinance one. All financing provided is based on the current liquor license values for the county in which the liquor license is issued. The client’s credit, time in business, or business location has no bearing on the loan amount, interest rate, or terms provided.
Our liquor license financing offers clients the flexibility of interest rate, repayment terms, and prompt closing to fit their financial needs. Liquor License Professionals has financing with variable interest rates and possible closing within seven days of us providing an Estimate of Closing Costs outlining the related terms, rates, and costs for the proposed liquor license loan.
All loan documents are prepared by an attorney registered with the Florida Bar Association. All earnest money deposits and funds to close are retained in a legal trust account until all transactions have been completed.
Why Should I Get a Loan for a Liquor License?
Licenses to sell alcohol in Florida can be expensive. (See Florida’s fees here.) One of the more inexpensive liquor licenses still costs well over $1,000. If you can pay for that outright, that’s great.
However, as you look into different liquor licenses as your business grows, the costs can add up. At some point, licensing expenses can pile up and get overwhelming, but that’s where a liquor license loan comes in.
Choosing a Loan and Liquor License Type
The type of loan and license you take out will depend on your business strategy. You can always start with a smaller license, then eventually work your way up to a more comprehensive one after seeing success. However, if your business has massive potential and audience at the present moment, investing in a more considerable liquor license can benefit your marketing, bringing in a huge payback in the long run.
Of course, if you are opening up a standalone liquor store, or if your business relies solely on liquor, you will need an exclusive license. After all, your entire business strategy is built on selling liquor.
How Does Liquor License Financing Work?
When you take out a liquor license loan with us, it will work just like when you take out any other loan. We will help establish a payment plan, overall cost, and interest rate, and look into your business credit. Our goal, however, is to get you selling alcohol in whatever capacity you are seeking as soon as possible. You’re a business owner, and we understand that your time is valuable, so we want to make the financing process easy and seamless. We work with each of our clients to reach a loan option that is most beneficial to the needs of their business and goals.
Can I Refinance My Liquor License?
Yes. Suppose you are halfway through paying off your liquor license, and you realize that it’s just not working out. Maybe the cost of the alcohol plus the license is bleeding out more money for you than it’s bringing in, or maybe you need to drop down to a different, minor license?
At Liquor License Professionals, we can work with you to help you change your license status, sell your license, and in some cases, refinance your liquor license. If your business has temporarily taken a hit, but you fully expect it to rise back up over time, then you may want to look into a refinancing option.
What to Consider When Refinancing a Liquor License
This option to refinance a liquor license will allow you to make smaller payments over a more extended period. However, be aware that this kind of refinancing may negatively impact your business credit score and lead to higher interest rates.
Of course, if you are in a situation where you are losing money and might not be able to pay your liquor license fees, then refinancing might be the best option for you, no matter what. It’s better to accept the credit hit and not be late on payments than it is to be late on payments, take the credit hit, and end up refinancing anyway.
What If There Are No Liquor Licenses Available?
There are a limited number of liquor licenses available to a specific county in Florida. If there are too many licenses currently in use, you’ll have to wait for someone to let their license expire or sell their license.
At Liquor License Professionals, we can help you through the process of finding someone that would like to sell their license. Our brokers will be right in the middle of the negotiation and legal process of having that license signed over to you.
We are always keeping our ear to the ground on potential openings for liquor license opportunities. When you work with us, we can point you toward the best and fastest way to start selling alcohol for your business.
Contact Us About Liquor License Financing Today
Liquor License Professionals wants to make sure that growing and startup businesses who want to sell alcohol on-premises in Florida can find a way to do so. We offer different loan options to all of our clients and work with you to meet your business needs and goals.
We can help you determine the correct liquor license for your business and identify loan terms that fit your budget. For more information about the liquor license loan process, feel free to give us a call at (407) 966-1818 or use our online contact form.
We always make sure to get in touch with our clients as soon as possible. Before you come to us, please be willing to share what kind of license you are interested in, what business you will likely be running, your location, and any relevant information on how you intend to sell alcohol. Thank you.
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