Term sheet for banks

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January 24, 2021

by a searcher from University of Pennsylvania - The Wharton School in Toronto, ON, Canada

in relation to banks, do we get the term sheet prior to seeking acquisition or after getting one in LOI?

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Reply by a lender
from Western Carolina University in Raleigh, NC, USA
Lending term sheets come after the LOI is executed. Most banks are more than happy to review the deal and give you feedback before you sign the LOI as well.
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Reply by a searcher
from University of British Columbia in Vancouver, BC, Canada
I've only pursued term sheets post LOI, but I often share some details to get a read from the bank beforehand
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