By Matt Silasiri – Marketing and Business Development Manager
With high interest rates, banks are getting more selective on what SBA loans they’ll approve.
In a nutshell – Flight to Quality. Meaning that banks are more likely to approve loans from qualified buyers. There are two key metrics that they look for.
- Financial Stability
- Transferable skills
Now for some good news.
Even though it can be more difficult to receive SBA funding, buyer demand hasn’t diminished.
In fact, we had over 1,200 buyer inquiries on our new listings in February alone.
We’ve seen an aggressive Flight to Quality with strong, serious buyers looking to acquire right now. No matter what uncertainties there may be in the world: interest rates, unknown political landscape, rising cost of goods, etc., there is demand for strong profitable businesses.
Click here to learn about another financing option from our CEO, Brian Slipka.
With all the uncertainties and potential changes in our economy coming in 2024, now is a great time to see where your business is positioned which we’re ready to assist with.
If you’d like to learn more about exit strategy, we created a video series for you- 24 Rules to a Successful Business Exit.
You can check them out here. These short videos are the ultimate quick-start guide of the exit process.
Questions about the exit process, or valuation? Call us today (612) 235-3511.
About Sunbelt Business Advisors of Minnesota
The Sunbelt Business Advisors Minneapolis office is the largest office in the Sunbelt network with a staff of over 50 advisors, associates, analysts, and business development representatives. In 2021 the firm was recognized by the International Business Brokers Association as the #1 firm in the country and the first firm in history to sweep all three first-in class awards. Sunbelt provides services to business owners interested in selling their businesses, assistance with merger and acquisition activities, complimentary business value assessments, and advice to business owners seeking to maximize their life’s work when they exit. The firm provides business brokerage and mergers & acquisitions services for companies with revenues from $500,000 to $150 million. More information is available at www.sunbeltmidwest.com (<Under $5 million revenue) and www.tnma.com ($5 – $150 million in revenue).
