It’s actually quite popular to pair SBA and SF.
yourbizbroker
joined 10 months ago
Business broker here.
A $6-$7M business can be purchased using a maximum of $5M from an SBA loan and then either seller financing or a conventional bank loan.
Plan on bringing around $1M to the table of your own money or from private investors. You may be asked to put down 10% of the purchase or supply your own working capital once you take over.
Your story matters. The bank and the seller need to feel confident your team has the experience to run a business of this size and industry.
The most selfless people I know are entrepreneurs. The ones that survive are constantly thinking about how to serve others.
Business broker here.
A “strong customer base” is rarely a primary selling point for a business.
By far, the main priority for a business buyer is the profit the business produces, which isn’t necessarily dependent upon a strong customer base.
We are all slaves until we buy our freedom.
Business broker here. Consider hiring a broker by the hour for consulting.