Can anyone help ?

searcher profile

June 27, 2021

by a searcher in Wynnewood, PA, USA

Hello everyone, I am rolling up landscape supply companies within the United States and Canada.

I am trying to find a solution to brokers requests of proof of funds. I wish to show them interested financial institutions.

Have any of you ever received any documentation from a financial institution expressing interest in your acquisitions, Something non-binding but still with a high level of interest?What will such a document called?

Thank you,

Dario

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Reply by a searcher
from Queens University in Edmonton, AB, Canada
Certain FIs might be willing to issue a "letter of support" indicating that they might be willing to fund the acquisition, subject to due diligence, etc. Not sure a typical bank would be willing to do it, but a lender such as BDC in Canada (government sponsored development bank) likely would
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Reply by a lender
from The University of Chicago in Schaumburg, IL, USA
Unless your personal balance sheet is very strong, Byline Bank (as a SBA lender) would have to "pre-screen" each potential transaction before providing any indication of support. However, we do this on a regular basis. If you would like to discuss further, feel free to DM me.
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