THANK YOU TO BRUCE MARKS @ FIRST BANK OF THE LAKE
Searchfunder Friends: it's been a tough year for SMB M&A...dry pipelines, busted deals and everything in between.
I wanted to send my sincere thanks to ^[redacted] at First Bank of the Lake (Bruce is based here in Florida) for helping us get to the finish line last week on our first and only deal of 2020.
One big company we looked at together over the summer would have required a max $5M SBA loan, and that was a big roadblock for most folks at the time. But Bruce got comfortable and would have gotten us to a closing if not for the deal busting for non-lender reasons. Then, in late fall when we got another deal under LOI, he promised a quick closing because we were already underwritten...and our closing last week was less than 60 days after LOI. That's hard to beat in the SBA world.
I can vouch for his communication, "quick reads" and willingness to get in the weeds to vet opportunities. Thanks Bruce!