I’ve been working on a guide to raising debt and equity for lower middle market acquisitions and just published the full version. I haven’t come across anything detailed on financing an acquisition in the $2–10 million EBITDA range outside the traditional search fund model, so that’s what I set out to put together here. The guide covers things like: - What makes a business financeable or unfinanceable - Which LOI terms can create financing problems later - How to size and structure the debt and equity - How to find lenders and investors that fit your deal - What needs to go into the investor presentation, financial model, and data room - How to get enough term sheets to create real competition and improve your terms I’ve spent my career on both sides of these deals: advising on M&A and capital raises, investing across debt and equity, and building an investor community of 250+ private equity funds, family offices, and accredited investors. Along the way, I’ve had hundreds of conversations with buyers, sellers, investors, and lenders. This guide reflects that experience. If you’re looking at a deal in this size range and expect to need outside capital, I hope you find it useful. And if there’s something you think I should add or clarify in a future version, I’d be glad to hear it. I posted the full guide here: redacted