Florida Liquor License Loan FAQs

Here are some answers to common questions we receive about Liquor License Loans.

Click on a question to view the answer.

What is a quota liquor license and how can I get one?

Quota liquor licenses authorize the sale of beer, wine and liquor. They are limited in the number issued for each county. For every 7,500 people residing in the county, one quota liquor license is made available for issuance. In order to PURCHASE a quota license, you must locate an existing license available for sale. The licenses are specific to the county in which they are issued and may not be moved to any other county.

Why should I purchase a foreclosed liquor license?

Do you like to save money? With a foreclosed liquor license, you don’t have to worry about a transfer fee. You will also be assured that the license you are buying is free of all liens or debt.

How much money do I need to put down to purchase a Florida liquor license?

As little as 10% down! Provantage Group, LLC will finance up to 90% of the license value.

I have poor credit and/or have filed bankruptcy - can I get financing?

Yes, the loan is based on the value of the liquor license and there are no background or credit checks involved for financing. You do not need to produce financial statements or any other credit verification.

How long does it take to close on a Florida liquor license loan?

We can close as quickly as 3-5 business days.

Can I make interest-only payments on a loan and then convert it to standard principal and interest at some point in the future?

Yes – many borrowers want to preserve their capital when they are just starting their business then pay interest and principal once they achieve stability.

How long is the typical liquor license financing term?

The typical liquor license financing term is amortized over 10 years to keep monthly payments low, with a balloon payment at the end of 5 years. Most borrowers then choose to refinance with us at the end of the financing term. We specialize in individually tailored financing options and can amortize over a straight term with no balloon or amortize over longer terms.

If my Florida liquor license goes up in value, can I refinance to obtain additional capital?

Yes, we finance or refinance for up to 90% of the current fair market value of the license, which is determined by simple supply and demand in the county where the liquor license is issued.

I own a liquor license and am selling my business. If I currently owe money on the license, can Provantage Group, LLC refinance the outstanding balance of my loan for the new owner?

Absolutely. Our attorneys can prepare all documents to assign the loan to the new borrower and pay off the current lender.

What types of costs can I expect when getting a liquor license loan?

The lender charges an origination fee which varies according to the amount of the loan. Other than that, you only pay attorneys’ fees for preparing the loan closing documentation, performing due diligence and lien recording costs.

How do I get started with obtaining a Florida liquor license loan?

Call or email us at [email protected] so we can discuss your specific needs. Once we set up the terms, we will email you a loan commitment to sign and return, after which our attorneys prepare the loan documents to email you for execution and return. Once we have the executed loan documents and the lien is recorded, the loan is funded via wire transfer or overnight delivery of an attorney trust account check.

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