What Really Happens When You Sign a Letter of Intent to Buy a Business?

What Really Happens When You Sign a Letter of Intent to Buy a Business?

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Q: I've signed a letter of intent (LOI) to buy a business. I have the seller's P&L and my financials together. I went to my local bank; they don't seem interested in helping me finance this acquisition. The business, by the way, is a landscape business that does landscaping and builds outdoor patios. What happens now? Thanks!

Paul

Timestamps:
(00:01) Paul asks about the letter of intent to buy a business.
(00:25) Explanation about traditional bankers and the importance of working with a bank specialized in SBA loans and being a PLP (preferred lender).
(00:52) Finding the right lender to help you navigate the deal, and executing deals faster with less conservative banks.
(01:26) Beau's fee structure, commitment to quick feedback, and responsiveness compared to traditional bankers.
(02:04) The common misconception about local banks and the national footprint of most SBA lenders.

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💥 Thanks for watching 💥
#Finance #BusinessAcquisition #SBALoan

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

🎥 The video interviews we do on IFP will help you scale your real estate business and learn how to finance all your projects.

About the Channel: Want to structure your investments in the right and secure way?

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