By Diana L. Miles
Many business owners in today’s climate count on the SBA to finance the buyer’s purchase so their own nest egg isn’t at risk by acting as the buyer’s bank. The Sellers want an all cash deal; and it’s a very feasible arrangement if the owner sells at the right time.
However, a week ago the SBA funding cap was reached. No more lending available. This became a real concern for both our firm’s existing buyers/sellers who have contracts for purchase underway. The seller didn’t want to finance the buyer’s purchase. At the same time, the buyer didn’t have the means to buy the business outright.
Good news came just a few hours ago when the cap was raised; you can read more by clicking on the below link:
If you have questions about strategic timing of an exit to boost your ALL CASH opportunity, contact Diana at Miles@BridgeMergers.com.