Do More Than Just a QoE

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by a professional from The University of Texas at Austin - Red McCombs School of Business
in Austin, TX, USA

2yrs ago

Do More Than Just a QoE

The QoE is just part of financial diligence. You should also dig into how to finance operations post-close. A working capital loan seller loan at a rate well below market can be your lifeline for covering day-to-day expenses and the inevitable surprises post-close.

You want something about working capital in the initial LOI and phrased in a way that's easier for the seller to see the value of it. If you wait until after the financial due diligence is done, working capital issues may kill your deal.

Follow me if you found value.

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reply by a searcher 2yrs ago
from Carnegie Mellon University in Jersey City, NJ, USA

Sounds like a potentially interesting structure. Would this look similar to a line of credit from the bank? What motivation would a seller have and in what scenario would the seller consider a below market rate working capital loan?

reply by an investor 2yrs ago
from University of Pennsylvania in Charlotte, NC, USA

Hi Yvette, Though we haven't seen it done, interesting idea to have the seller finance working capital needs. If there is bank financing of any kind, there will be intercreditor issues to address. As a buyer I'd wonder whether putting the unusual provision (meaning seller provides w/c financing) in an LOI would make the proposal less competitive than those that use a customary approach re NWC. Wondering has anyone out there done this and if so what was your experience?