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@tkchapin This is true…the buyer had 3 banks turn her down because she’s green and went about it wrong. She was trying to do an SBA 504 to pay lest interest but banks knew that an over inflated building is fishy. Also i steered her to a 7a. First guy said no because he would not look at Ad...

@loveroflove basic no nonesense. love it! ‘sorry pal, this is a goober request’. i’m doing it! LOL

I’m selling my CPG brand (asset sale). Our goods sell e-com and wholesale. Buyer has worked for me for 10 years & is CEO right now. She also wants the bld (i personal own it debt free). I think she wants the bld MORE than the biz. Heres the situation. For those who love deals like me - let’s...

@jrh712 Also.. what is a ‘share deal’? ps I will likely be doing $3-500k on a seller note on standby. ugh….

@jrh712 Also.. what is a ‘share deal’? ps I will likely be doing $3-500k on a seller note on standby. ugh….

@jrh712 They needed a 1.15 min DSCR for the buyer. The biz has 10 years of financials but the lender needs to see books to see if it is a safe investment. The taxes are the only proof that I made the money that I claimed I made I suppose. I will re-mention that it’s an Asset sale - thanks for...

@hbc How can any lender lend money to anyone to buy any business without seeing financials? That doesn’t make any sense to me. I am unaware of any banks or lenders blindly giving money. Why would they take that risk? Super curious…. how is your business working out?

@nottoosure I had a great chat with the SBA office in Tampa! they said that all they need is 3 years of 1120’s and nothing more!

@bharati21 But they asked for 10 years on the form and alllll kinda of forms I don’t fill out (trust forms, heavy machinery, ERC, etc etc) and 940/941’s. i don’t like the irs having anymore to look for than needed - i can send the payroll reports right from the payroll provider - i feel like...

@itsmeandylee Thanks! Yeah My Ad Backs are over 25% of gross sales. I felt guilty putting them down and also had a moment of … ‘why am I selling again??’ I’ll call ya if needed.. the SBA process as the seller is much more in depth than I thought!

@jjoel10 I will be repeating to myself ‘Don’t sink the ship bc you are annoyed’ ‘Don’t sink the ship….’!!

I’m selling to a buyer who works for me currently. She’s never bought a business so i’m guiding the process and it’s going well. The SBA lender (is not a traditional bank) person doing to work has been good and impressed with my clean books, etc I have an S corp with 2 DBA businesses under...