Open to suggestions/input/references for more research:
1) trying to secure SBA loan with 5% buyer financed down. If the seller is financing the remaining 5% of the purchase price, does the seller 5% loan to me have to be on full standby until year 10?
2) let's say scenario 1 has seller earn out as well. I'm sure there is a way to do it (based off previous searches/posts), but trying to summarize to ensure understanding: I can either do contingent seller note or escrow? Anyone have any resources/contacts in this area?
3) what are the provisions from SBA if I secure loan approval prior to Sept 30? my understanding is that it's to the tune of no guaranty fee, $9k per month for 3 months after acquisition? Are there other components? Is it contingent upon loan approval or loan funding by Sept 30?
4) experience in wheel repair (repair removal, restoration, powder coating, color modifications). What are the challenges to growth? Is it a skilled labor intensive or capital intensive area? other watch outs economically that I should be aware of?
Wheel Repair & SBA Loan Structure
by a searcher from The University of Texas at Austin - Red McCombs School of Business
More on Searchfunder
Searchfunder is an online community and toolkit for searchfunds. Over 80% of those involved in searchfunds maintain a Searchfunder.com account to help them network, problem solve challenges, and keep up with the industry.
We maintain partnerships with database providers that make searching more effective, efficient and affordable along with features that help searchers find deals and investors and vice versa.
We maintain partnerships with database providers that make searching more effective, efficient and affordable along with features that help searchers find deals and investors and vice versa.
127 views
2 comments
Sign in to see all replies.
Create an account.