Looking for a non-SBA cash flow lender who will support an FL acquisition

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June 10, 2021

by a searcher from Hillsdale College in New York, NY, USA

We are negotiating an LOI right now on a business with $6.4M in revenue and $1.4M in EBITDA. The seller wants confidence that we have the $6.6M purchase price ready to go before he will take us exclusive. Equity is not an issue, but looking for $3.5M of debt is proving tricky (not able to do SBA because of our structure). There is over $3.5M of collateral for the loan, and we are flexible about covenants.

Does anyone have a good lender recommendation who will work in Florida? Feel free to email me at redacted if you have a recommendation.

Thanks everyone!

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Reply by a searcher
from University of Toledo in Shaker Heights, OH, USA
We have numerous financial sponsors that fit this bill, however, the WACC will be higher due to the covenant and collateral light nature of the transaction. DM me if you would like to chat.
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Reply by an intermediary
from Johns Hopkins University in Reston, VA, USA
Jonathan, Jason Brooks from MVB Bank is definitely someone to talk too. They do commercial lending redacted
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