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  1. #1
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    Need a Direct Lender for Business Acquisition Deals

    Need a Direct Lender for Business Acquisition Deals

    Please reply or send a message if you work for, or know of a direct lender that specializes in Business Acquisitions. (Person looking to purchase an existing business)

    Thank you!

  2. #2
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    https://www.sba.gov/funding-programs/loans/7a-loans

    If you are buying an existing business, gather the following information:

    • Current balance sheet and profit and loss statement
    • Federal income tax returns for the previous three years
    • Proposed bill of sale including the terms of sale
    • Asking price with schedule of inventory, machinery and equipment, and furniture and fixtures
    • Franchise, jobber, or licensing agreements
    • Proof of equity injection

    You may be required to submit more SBA forms based on the specific use of proceeds or fees paid on a loans package or to a broker or agent.
    Dave Lambert, Business Development
    dave@fcbankcard.com
    Merchant Services Consultant
    High Risk Merchant Payment Solutions
    SBA 7(a) Loans & Short-Term Funding
    T/VM: 727-291-7890
    Office: 727-233-1111
    Skype: fc-financial

  3. #3
    Senior Member Reputation points: 66298 Olderguy's Avatar
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    Depending on the size of the business....there is private money available...I can do up to a billion with 20% down....

    ... as well as SBA which can be a low as 5% down and 5% working capital. Typical it's 10/10. You should try and use a non bank SBA lender as their guidelines are less rigid. For example in the restaurant industry (which has a high default rate) banks can require the buyer have 3 years experience in the industry in a management role whereas a non bank lender will only require 1 year. Seller max 1 year contributing expertise no longer than a year.

    When you look at the tax returns of the seller, you an remove depreciation and officer salaries to improve profitability if it's marginal on the return.

    Also For SBA 7A and 504, Fico required is 660 but if you have good cash flow, can get some through will less down to 620 but needs to be a strong file.
    Last edited by Olderguy; 10-16-2021 at 02:36 PM.
    Steve Benjamin
    Professional Business Loans

    1012 Contessa
    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    Broker, Underwriter, general business loan expert
    949.228.1050


    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 9.5% and up
    @ Equipment financing up to 7 years
    @ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Private money equity and debt for major investments
    @ Personal Loans up to gross income from personal tax return.

  4. #4
    Depending on what the client is needing in order to purchase the business, I might be able to help. Give me a call and we can go over the details.

    Brandon Dressler
    brandon@preferredfundinggroup.com
    815-878-0244

  5. #5
    I have been a business broker for 28+ years and have many sources for business acquisitions. You can contact me at: 407-928-8542 or broker@tomharrier.net.

    Tom Harrier
    Business Brokers of Central Florida
    Integrity Commercial Loans

  6. #6
    There are more items in tax returns to add back to the Seller's Discretionary Income than just Depreciation and Officer's salaries.
    Last edited by MissouriBroker1; 10-21-2021 at 05:17 PM.

  7. #7
    Senior Member Reputation points: 66298 Olderguy's Avatar
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    Quote Originally Posted by MissouriBroker1 View Post
    There are more items in tax returns to add to the Seller's Discretionary Income than just Depreciation and Office's salaries.
    For prequal summary, that all I need as part of the submission package to get a pre approval. Yes and the tax returns. I usually put together a half page to a page summarizing the deal in the portal.
    Steve Benjamin
    Professional Business Loans

    1012 Contessa
    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    Broker, Underwriter, general business loan expert
    949.228.1050


    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 9.5% and up
    @ Equipment financing up to 7 years
    @ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Private money equity and debt for major investments
    @ Personal Loans up to gross income from personal tax return.

  8. #8
    Senior Member Reputation points: 35
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    Nov 2021
    Location
    Brickell Miami FL
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    153

    Quote Originally Posted by MissouriBroker1 View Post
    I have been a business broker for 28+ years and have many sources for business acquisitions. You can contact me at: 407-928-8542 or broker@tomharrier.net.

    Tom Harrier
    Business Brokers of Central Florida
    Integrity Commercial Loans
    What paperwork you require to fund acquisitions?

  9. #9
    Senior Member Reputation points: 35
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    Nov 2021
    Location
    Brickell Miami FL
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    Quote Originally Posted by brandondresslerpfg View Post
    Depending on what the client is needing in order to purchase the business, I might be able to help. Give me a call and we can go over the details.

    Brandon Dressler
    brandon@preferredfundinggroup.com
    815-878-0244
    What paperwork you require to fund acquisitions?

  10. #10
    Senior Member Reputation points: 66298 Olderguy's Avatar
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    Irvine, CA
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    Well I'm sure either of these guys can help you.

    Here's what I would request for a business purchase:

    3 years business tax returns of business to be acquired
    3 years personal tax returns of buyer
    2020 P & L and balance sheet of business
    2021 YTD P & L and balance sheet of business
    Personal Financial Statement (form 413) on buyer.
    (This would show down payment funds available)
    Resume on buyer's experience in the industry.
    Fico scores of buyer.

    Terms of purchase (proposed agreement).
    Last edited by Olderguy; 11-06-2021 at 10:45 AM.
    Steve Benjamin
    Professional Business Loans

    1012 Contessa
    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    Broker, Underwriter, general business loan expert
    949.228.1050


    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 9.5% and up
    @ Equipment financing up to 7 years
    @ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Private money equity and debt for major investments
    @ Personal Loans up to gross income from personal tax return.

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