SBA LENDER ACQUISITION SHOUTOUT
Closed on an acquisition today. Wanted to take an opportunity to give a shoutout to our lender. In this process, I reached out to at least 15 SBA lenders. The majority of which only deal with loans that involve real estate transactions. SBA lenders are NOT created equal!
As we worked through due diligence on the business, we had 3 lenders that indicated they could take us the distance. One asked the same questions each time we connected and I could tell we just really weren't a concern. The other two had varying requirements and different value to bring to the table.
Surprisingly, my minimal time on Searchfunder ultimately turned out to be a benefit because ^[redacted] from CIBC reached out on one of my posts to see if he could help. Not only did he answer some helpful questions and provide guidance, but we ended up choosing his team and they closed our loan yesterday and funded today. SBA loans are not easy! For the borrower OR the banker. He juggled our issues and got this deal done. I plan to bring more his way. Reach out if you need an SBA lender.