Business Broker asking for financial statement and resume

February 27, 2024

by a searcher from Mahatma Jyotiba Phule Rohilkhand University Bareilly in Denver, CO, USA

I am definitely switching industries in my ETA journey. I have some business brokers ask for financial statement and resume.
Are their any templates that I can use to meet this criteria ?

0 Likes

44 Replies

464 Views

Replies

Reply by a searcher
from Princeton University in Annandale, Clinton Township, NJ, USA

I wouldn’t overthink this. Include your standard resume, and if you are leaving your existing career for search, I’d include a written summary of our search plan and target businesses (with any business criteria you’ve determined). For financial statement, I would do the following: 1) determine how much liquid capital you personally have available, 2) determine how much additional equity capital you either have earmarked with investors or would need to buy a business at the large end of your range, and 3) state that you plan to acquire with a combination on personal capital and outside investors, up to equity check size of $XXXX, with your personal equity comprising $XXXX.

some brokers will follow up and ask for proof of your personal funds, so don’t fudge the numbers there. If brokers won’t consider you unless you can provide proof of funds for full check size, give thoughtful rationale about why you are a serious buyer who can raise the equity if the deal fits your criteria. Sometime they won’t give you the time of day, but that is their loss. Most small businesses can only realistically sell to searcher who wants to jump in and get hands dirty, so brokers ignoring this cohort do so at their own risk.

Reply by a professional
from Arcadia University in Forest Hill, MD, USA

For me it really depends on the deal. I'm also a placement agent. Try filling out the SBA personal financial statement form: https://www.sba.gov/document/sba-form-413-personal-financial-statement. Also, fill in the SBA 7a borrower information form https://www.sba.gov/document/sba-form-1919-borrower-information-form. Bring any preapprovals, commitments, etc. Depending on the deal we have financial analysts who can build dynamic models for you, so supply basic 3 statement model any schedules, CIM, and plans you have on the target business. Then you have to be interviewed by the analyst. There are fees for that along with completing a full due diligence on the company. If I'm helping you raise capital, we can use this information to develop the marketing materials and capital formation documents as well. Make sure the company has been pre-screened as well.

+42 more replies.

Join the discussion