This question has been asked and answered on SF numerous times in the past, but lending standards are a moving target.

What is the general size (EBITDA) and credibility threshold required today to secure debt financing w/o a PG?

My understanding is that in 2021/2022 a clean, well established business with $1.5-2.0M EBITDA could find non-PG bank financing but today the threshold is... higher.... but where does it become viable? This is assuming bank debt at 3.0x (3.5x?) EBITDA on a business with multiple years of stable EBITDA.

I have an experienced CEO (late 40s, recent $20M+ exit in start up he founded) targeting an acquisition in an industry he has worked in for ~15 years. I also have deep pocketed equity inventors / advisors that are principals at investment firms / a mid cap buyout firm (but not in tune with micro buyout). We have a clear operational value creation plan and are targeting a huge fragmented industry. This would be deal #1 with follow on deals anticipated.

Would love to hear where the market is today, and also interested in intro conversations with any lenders / brokers that might have a POV...