Seeking SBA Lender Recommendations for Landscaping Company Acquisition

searcher profile

June 26, 2024

by a searcher from University of Alberta - School of Business in Miami, FL, USA

I am in the process of acquiring a landscaping company and would appreciate your recommendations for SBA lenders who have experience in this sector.

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commentor profile
Reply by an intermediary
from Oklahoma State University in Memphis, TN, USA
It is very important to have an experienced lender. Most banks do SBA loans, but many don't do very many. Inexperienced lenders take much longer. In addition, one of the biggest issues to look out for is the appraisal process. Large experienced lenders seem to do a better job with obtaining the appraisal. If the business doesn't appraise at the value you are paying, you won't get the loan you want and it will be too late - at least with that lender. I would be happy to discuss this topic with you directly.
commentor profile
Reply by an intermediary
from Harvard University in Dallas, TX, USA
Since banks vary in their DSCR requirements, rates, and appetite for different industries, you should shop your deal with at least 4-5 SBA lenders. Hopefully you will get a quick read on their appetite for landscaping businesses. Once you get a term sheet or indication, you then have to put some money down usually and hope that the lending officer you are working with can get it done. As others have said, banks (and lending officers) with a lot of SBA experience are gold.
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