Seeking SBA lender fit for a management-led, project-based services acquisition

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by a searcher from Wayne State University
in Detroit, MI, USA

1h ago

Seeking SBA lender fit for a management-led, project-based services acquisition

I am evaluating an SBA-eligible acquisition of a management-led services business and am seeking lender introductions before submitting a final Letter of Intent (LOI). The transaction is currently pre-LOI and is subject to financial diligence, lender review, and negotiation. The experienced leadership team will ensure an orderly transition. My approach post-close will focus on: - Active owner oversight - Leadership support - Financial visibility - Process improvement - Disciplined growth The company operates in a project-based environment, so I am underwriting it conservatively. Final valuation and financing will depend on verifying: - Normalized earnings - Job-level Work in Progress (WIP) - Backlog - Receivables - Working-capital requirements - Management continuity - Seller-transition terms A preliminary conservative model indicates debt-service coverage above 3.0x after including an owner-replacement compensation assumption. This analysis is preliminary and subject to lender underwriting and financial verification. The transaction will include: - Buyer equity - SBA acquisition financing - A subordinated seller note - Potentially limited performance-based consideration If applicable, real estate would be treated separately. I have identified potential equity-support resources and prioritize lenders with experience evaluating comparable SBA acquisition structures. I am particularly interested in introductions to: - Celtic Bank - Pathward - Byline Bank - Colony Bank - CRF Bank - First Internet Bank - Huntington Bank - Lendistry - Oak Street - Truliant If you are a lender or have a direct lender relationship with experience underwriting management-led, project-based service companies with WIP, backlog, working-capital, and seller-note considerations, please send me a private message. I can share a sanitized deal overview and buyer materials after an initial fit discussion.

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