Financing a Business Acquisition Using an SBA 7a Loan: Auto Body Shops

Financing a Business Acquisition Using an SBA 7a Loan: Auto Body Shops

Question:
I am looking at exiting my corporate career and found a business owner retiring. He has 3 successful auto body locations throughout Southern California. I was wondering if this might be a good fit for SBA financing. He wants $6mm and he will seller carry between 15-25%. How would I go about getting pre-qualified for this?
Thanks,
Reggie

Timestamps
[00:39] Generally, the banks are going to look at you from a personal standpoint
[00:57] Looking at the cash flow of the business
[01:22] Make sure the cash flow meets the debt service coverage requirements
[01:29] What are your other options when financing a business acquisition auto body shops
[02:30] What are you going to look at to put all the paperwork together?
[02:45] Figuring out other ways to structure a deal
[02:48] Book a call at http://bookwithbeau.com/
[02:53] Watch SBA videos at http://investorfinancing.tv/

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#businessacquisition #sba7a

_________________________________________________________________________________________________ About Beau: Beau Eckstein is a real estate entrepreneur, TV personality, and commercial mortgage advisor, specializing in construction financing and multi-family lending.
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