• Preferred lenders have been given the authority by the SBA to underwrite their own SBA loans internally and make the final credit decision, saving multiple weeks in the process. • Preferred lenders have a proven track record of successfully processing and servicing SBA guaranteed loans. Other factors determining their PLP (Preferred Lender Provider) designation...
Our federal government is currently funded through September 30th. Unless our elected officials approve a new budget before this date, the government will shut down. The most recent shut down lasted 35 days between 12/22/18 and 1/25/19. M & A Advisors and Business Brokers need to be proactive about buyer financing activities when a potential...
Cash and Personal Assets as Equity Cash from savings is king in equity injections, but other sources can also be used. Assets that can be readily converted to cash, like stocks and bonds, are acceptable. A borrower can take out a separate, personal loan for the equity injection as long as “repayment [can be] demonstrated...
Many prospective business buyers look to the Small Business Administration for business acquisition loans. The SBA loan is the most commonly used business acquisition loan available today. SBA loans were created to be borrower-friendly for business acquisitions. In comparison to conventional loans, SBA loans: 7(a) Have longer repayment terms with no prepayment penalties More repayment...
How to Compile Financial Records to Prepare a Business For Sale You will not get beyond the first glimmer of buyer interest unless you show financial records – and the more formally prepared and documented they are, the better your chances are for selling. In fact, how you present your financial information can affect the...
More than one business owner has been turned down when attempting to find financing. (Roars of laughter…really?) Especially in this economy small business financing is no easy task. One thing that owners can do is use their voices, the SBA has a very intelligent blog and that is one place where you can not only...
