Results 1 to 10 of 10
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10-16-2021, 09:20 AM #1
- Join Date
- Apr 2017
- Posts
- 127
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!
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10-16-2021, 12:23 PM #2
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,924
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
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10-16-2021, 12:52 PM #3
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
522 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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10-21-2021, 01:14 PM #4
- Join Date
- Aug 2021
- Posts
- 69
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
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10-21-2021, 05:06 PM #5
- Join Date
- Jun 2020
- Location
- Missouri
- Posts
- 59
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
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10-21-2021, 05:09 PM #6
- Join Date
- Jun 2020
- Location
- Missouri
- Posts
- 59
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.
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10-21-2021, 05:15 PM #7Steve Benjamin
Professional Business Loans
522 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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11-05-2021, 07:49 PM #8
- Join Date
- Nov 2021
- Location
- Brickell Miami FL
- Posts
- 156
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11-05-2021, 07:49 PM #9
- Join Date
- Nov 2021
- Location
- Brickell Miami FL
- Posts
- 156
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11-06-2021, 09:49 AM #10
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
522 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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