Suggestions? Sr Lenders in Canada (~$7mm of debt)

by a searcher from Queen's University

5 months ago

I'm recently under LOI with a business in the construction industry in Canada (40-year history, consistently profitable). I'm looking for suggestions on what banks I should consider to finance the deal. 


Some context that may be helpful:
The business is doing ~$2.5mm of EBITDA
Between my capital and the Vendor note, there will be >$5mm in "equity."
I won't do a personal guarantee (and given the amount of my equity going into the deal, I shouldn't need to)
Looking for about $7mm in debt between a small operating line and acquisition financing

So far, I have engaged RBC, ATB and BDC. They've all demonstrated interest and are working on terms at this stage. Are there other banks I should be discussing with? Does anyone have experience with any of the credit unions?

1 like
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2 comments

searcher from University of Richmond - Robins School of Business

I believe TD and BMO are also active in that space.

5 months ago | like reply | 0 likes

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