Is anyone doing SBA 7a Acquisition deals?

by a searcher from Pepperdine University - Graziadio School of Business and Management

4 years ago

I had a deal that was supposed to close last week with a regional SBA lender who killed the deal at the 11th hour, citing bank concerns over the Corona virus - in the same email with the declination, they immediately suggested I apply for their PPP program.  

It's a small deal ($225k) but a very good multiple and would have normally been a slam dunk.  Is anyone else seeing SBA lenders back off 7a/acquisitions right now?

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8 comments

searcher from Pepperdine University - Graziadio School of Business and Management

To add insult to injury, they told me (in writing) they would refund my $2k deposit, then changed their mind a few days later and refused. I’m an existing client too - which will also change.

4 years ago | like reply | 0 likes

searcher

My lender has simply said my loan is on hold until they can get through the PPP volume

4 years ago | like reply | 1 like

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