Broker Outreach & Proof of Funds

by a searcher from East Carolina University - College of Business

1 month ago

Hello everyone,

When doing broker outreach, it's clear that having proof of funds can help tremendously.

In your experience, is that proof of funds related to having some sort of preapproval from the SBA or just the capital you plan to inject to secure the loan? 

I'm sure there may be nuances I am not considering, so any and all feedback is welcome.

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23 comments

searcher from University of Wales

Thanks for all the comments, they are helpful to me.

2 weeks ago | like reply | 0 likes

searcher from Thunderbird School of Global Management

Hello, apologies of this might be long. I usually respond with the following statement:""believe that in the right context and at the appropriate stage of our discussions, a detailed overview of our financial capacity will be crucial in providing a comprehensive picture of our commitment to this potential acquisition. Rest assured, we understand the importance of financial viability in such transactions and are fully prepared to furnish the necessary documentation and assurances when the timing is right.

However I also got pre appoval letters from banks in case the broker insists I show them something. the paragraph i send above seems to work in most cases,

1 month ago | like reply | 1 like

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