199 - Skip the SBA: Buying a $4m Biz with a Conventional Loan
Today's guest worked for 18 months to buy a business he'd set his heart on. Ben Bryer is a guy who goes all-in, and he was ALL IN on this deal. But it died despite his passion, and Ben was left a year and a half older, $150k poorer, and with a negative balance sheet. He questioned whether to go on searching. Was this path of buying a business really for him? Well, being freed of that dead-end deal allowed him to open his mind to other listings. Like Meyer Gage, a decades-old, super-niche manufacturing business. A business that Ben was sitting in as CFO & owner for this interview. Ben Bryer on the floor at Meyer GageA few themes to listen for in our conversation: First: The post mortem on that first, painful dead deal. Also: Using conventional debt rather than an SBA loan. And finally: Working with a financial backer. You'll hear us discuss this model as a little bit self-funded searcher, a little bit traditional search fund. Interesting model (if you can get it). OK, please enjoy this interview with Ben Bryer, owner of Meyer Gage.

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