Step 1: Get Pre-qualified for a Business Acquisition Loan Before you start your search to find the right opportunity to buy an online business, you need to know if you qualify for financing and for how much. Benefits of pre-qualifying before finding a business: • Establish a price range • Qualify for the maximum amount • Get connected with business brokers and get access to the best deals

Step 2: Connect with a Business Broker Once your pre-qualify for financing to buy an online business, we at Ecommerce Lending will connect you with our network of accomplished business brokers. Throughout the business acquisition process, we work closely with our buyer-clients and their broker to ensure a successful transaction. Our working relationship and industry connections will help you, the business buyer, to get access to the great opportunities that you would not find otherwise.

Step 3: Determine if a Business Qualifies for Financing When you are acquiring a business, not only do you have to qualify, but the business itself must qualify as well. To avoid future disappointment weeks into the acquisition process, have your business acquisition lender help determine if the business you are interested in qualifies for SBA financing. Many people try to buy an online business and are completely oblivious on how to qualify for financing. At eCommerce Lending, we will guide you through the acquisition process and ensure that you have all of your bases covered when it comes to financing your deal. The last thing you want to happen is to have your Letter of Intent accepted, but unknowingly to you, the business does not qualify for financing. Businesses do not qualify for financing for a host of different reasons. It can be due to its short historical financial track record. Perhaps the business is not domiciled in the US. Maybe it is selling products that are here today and gone tomorrow. We recommend that you provide your lender with the financial information of the business you are interested in, along with the business’ Offering Memorandum. This will help them determine if it qualifies for financing.

Step 4: Structure Your Letter of Intent Once you have found the ideal business to buy, and it has been pre-qualified for financing, your next step is to draft a Letter of Intent and present it to the business owner or business broker. This agreement outlines your interest in buying the business and deal structure. Part of our hands-on approach with our buyer-clients is to assist in structuring their offer. We know what it takes for an offer to be accepted and how to separate it from the rest in this highly competitive buying environment.

Step 5: The Loan and Closing Process Once your letter of intent is accepted, the loan process begins. We will provide a needs list along with forms that need completion. We will also prompt you to complete a business plan with projections and apply for life insurance, which both are SBA requirements. Now that we are received all the necessary documentation and confirmed the deal structure, we will review and submit your loan to a team of highly skilled underwriters. They will review all the information and documentation and typically respond with questions. The entire loan underwriting process normally takes three to four weeks. Once everything has been reviewed by underwriting and upper management, a Formal Loan Proposal will be issued. Your loan will then enter the final underwriting stage with the intention of obtaining a full loan approval. When this is achieved, a Loan Commitment Letter will be issued. Now that your loan is fully approved, we all begin the closing phase of the business acquisition. An assigned Closing Manager will schedule a closing “kick-off” call with you, your attorney, bank counsel and our team. An extensive closing items checklist will be provided and reviewed during the call, with each attendee assigned to complete certain tasks. During the next three to four weeks, all participants will provide their assigned tasks needed to complete the transaction. Once all tasks are completed, a convenient closing date will be scheduled based on time and availability of all parties involved. Since buyer and seller tend to be located distant from one another, a mobile notary is assigned to help facilitate the signing of closing documents. When all documents are executed, funds are released through escrow and the transaction is officially complete. Soon thereafter, the business broker will help coordinate the transition of the business between buyer and seller.

For more information, and to schedule a free consultation, go to our website at