Banks and NDAs

by a searcher from Dartmouth College

4 years ago

I'm under LOI on a deal and about to reach out to banks for financing. Should I ask banks to sign a NDA before sharing specific details about this opportunity?

Or will that make me look like an amateur? My sense is that banks won't sign NDAs, but I'm not sure. 

Thank you in advance for any thoughts and feedback.

3 likes
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14 comments

searcher from Southwestern University

Bank have a stronger fiduciary duty than an NDA. Most won't sign them and it's a rookie mistake to ask.

3 months ago | like reply | 0 likes

intermediary from University of Florida - Warrington College of Business Administration

The only time we had the bank sign an nda was from the sellers request with an extremely picky attorney and a concern that the local bankers would blab that this company was for sale. If you need a bank you can trust call ^Searchfunder member‌. There are plenty of trustworthy lenders out there.

3 months ago | like reply | 0 likes

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