SBA Strategy with multiple LOIs

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by a searcher from University of Chicago
in Washington, DC, USA

10mos ago

SBA Strategy with multiple LOIs

All - After a few months of cold-calling, kissing some frogs, and taking some f-bombs - I have two companies under LOI. I am dual-tracking DD on both in case one falls through. However, if neither falls through, I would like to close on both. Does anybody have experience/advice on the feasibility of pulling this off with the SBA? If you do, I'd love to schedule a call. Some pertinent details below: - Both targets are close to my house and close to each other - Both are in the exact same industry - Combined deals will still be under the $5mm SBA 7(a) loan cap - I have relevant operator experience (but not as controlling owner) Thanks for the help! Happy searchin'

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reply by a lender 10mos ago
from University of Missouri in Denver, CO, USA

Hi ^redacted‌ I would be happy to discuss. I think this is likely feasible

reply by a lender 10mos ago
from California State University, Sacramento in Seattle, WA, USA

Having specific industry and operations experience will make a huge difference for two at one time. We typically don’t like to lend in this scenario because most first time buyers attempting it don’t have any operations or industry experience. Let’s catch up. redacted