ALTERNATIVE TO THE SBA FOR ACQUISITION DEBT???
I have an existing medical billing business that I am very attracted to buying. I am concerned about the experience and personal qualifications required in the SBA process. The SBA is the preferred solution, but I would like to have a backup solution for[redacted]% debt available since I do not want to let this deal fall apart.
Business cash flow and profitability are strong.
No real estate or physical assets for collateral.
Purchase price is ~$1.3MM.
Buyer/borrower industry experience is weak, but buyer has multiple successful startups/exits on resume.
Little to no impact by COVID.
Very strong growth potential.
I'd love to hear of any experience or solutions the Searchfunder group has used. I expect to have the equity for this deal put together pretty easily, but will cross that bridge when ready.