SURVIVING IN SBA LIMBO?
So, I'm 20 days from my target close date on a company I'm very excited to own. Only hold-up is that there is this little thing called a partial governmental shutdown that has the SBA out of commission. I'm curious if anyone else is in the same boat and what they are doing about it. I'm in the process of crafting a management agreement to step in to run the business as of our target date. We'll then do the formal business sale once SBA is back up.
If you are in a similar situation and want to consider a management agreement (which may or may not make sense for you; I have a really good relationship with the seller), I'm glad to share the template once it's done.
Best of luck to everyone out there.