New Searcher, little funds

March 07, 2024

by a searcher in Phoenix, AZ, USA

Hi everyone!

I was recently introduced to business acquisition by a friend and I have been learning so much about it. I have been in full time ministry for most of my professional career. I have gained a lot of skills in leading, people managing, and many other skills that I think could go a long way in running a successful business. Though I love ministry, I know it will not lead me to the financial freedom I desire and something tangible I can leave for my kids. My questions is what options do I have as a searcher with limited funding? SBA Loans scare me bc home is our only asset. If anyone is in the Phoenix area I would love to connect!

Reply by a searcher
from The University of Texas at Austin in Houston, TX, USA

Josue, many searchers have been able to close on a deal with little to no capital, and a handful (that I know of) have been able to use a source of financing that doesn't require a PG. In my opinion, it's more about finding the right deal, which is much harder than people realize, than worrying about the source of financing or third-party capital. For a good deal, you'll have no trouble raising capital.

Reply by a professional
from Hobart and William Smith Colleges in Chicago, IL, USA

Hi Josue- Feel free to direct message me if you have any questions on the legal side of things.

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