New Chicagoland Self funded Searcher Introduction

January 13, 2021

by a searcher from The University of Chicago - Booth School of Business in Chicago, IL, USA

Good Morning Search Funder community, I wanted to introduce myself to all of you as a new searcher in Chicago. I am looking for businesses in the Chicagoland area, as well as, open to exploring MI, IN and WI. I launched Cordelia Capital LLC this week (I swim with my parents in open water (Lakes, Oceans and Seas) so found it appropriate to pay tribute to 'heart, daughter and gem of the sea'). My website will be up in a few more days! I am looking forward to networking with other searchers, owners, lenders and etc. Current focus this week: create process for lead generation, connect with lenders, brokers and other searchers. Looking forward to this fulfilling journey with all of you.

Reply by a lender
in Stuart, FL, USA

You will find that when a seller usually requests a buyer pre-approval letter, it's because he has experience in residential or commercial real estate and that's typically what happens. In real estate, it's simple, the buyer qualifies or they don't, and the property stand on the appraisal. With SBA, you have three things.1-Whether the buyer qualifies or doesn't 2-whether the business qualifies or doesn't 3-and the third, which is called the global, is when the buyer and sellers information is joined to see if the deal works together. So while the pre-approval letter for the buyer can be somewhat helpful to help ease the sellers mind it really doesn't do much in the grand scheme of things. Keep in mind, every lender is different in how they approach SBA deals and every deal stands on its own merit. What may work for one deal at one lender may not work on another deal with a different lender. That is the benefit of using a company like mine as I deal with everybody and I know which lenders accept which deals and how to structure them and put them together. Feel free to reach out to me if you need to. Thanks

Reply by a searcher
from University of Illinois at Urbana in Rockford, IL, USA

Hi Alisa - I am in the early stages of my search as well. I am located in the Chicagoland area. I am considering business in Illinois, Florida and California. Feel free to contact me if you have any questions.

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