Hello All,

I have an LOI in place for a deal that I'm hoping to finance with an SBA loan (mostly). I have been in touch with a few lenders along the way that seem at least somewhat interested in the deal, but was curious about how I should approach lender outreach. Namely:

1) Is it necessary to ask the banks to sign an NDA?

2) What should I include in the initial outreach? The LOI, balance sheet, and adjusted financials from the CIM, some kind of a more brief teaser, or something else? Should I include a detailed personal financial statement?

3) How should I think about the number of lenders to reach out to?

4) What exactly should I be asking the banks to provide at this time -- an indication of interest, or something more concrete?

5) What should I be asking that I'm neglecting?


Sorry for the basic nature of these questions; this very much is my first rodeo and I'm just trying to figure out how to go from LOI to close.