Due diligence

by a searcher

1 year ago

Looking for advice regarding due diligence on a budget. How do solo searchers on a tight budget handle due diligence when they have a business under LOI?

I am going to use the SBA to acquire a business but Im really stuck on the diligence process. I dont think I will have the money to spend on an Accounting firm to do the diligence work. The business I am looking at is $200,000 SDE at a 2x multiple and I have enough for the 10% deposit plus 6 SBA payments (savings I am required to have). 

I was thinking of doing the diligence mself but I am not really experienced and fear I may miss some important items. Any help would be appreciated.

2 likes
122 views
10 comments

intermediary from Creighton University

I co-founded a YC-backed startup that automates parts of the QoE/DD processes so you don't make any mistakes during the most important part of the acquisition process. It prevents you from looking back and wishing you had asked a certain question during this stage. Our AI product saves you weeks of time and thousands of dollars. I think it would make sense for us to chat. You can schedule a time on my calendar here: https://calendly.com/dealwise/dealwise-30-minute-call

7 months ago | like reply | 0 likes

searcher from University of Cincinnati

I was going to recommend DueDilio as well. Platform connecting business buyers and investors with pre-vetted due diligence service providers.

10 months ago | like reply | 0 likes

More on Searchfunder

Just Closed on My First Deal! Reflections and Takeaways for other Searchers

45,152 transactions are available on Searchfunder (now searchable by keyword)

Now everyone has unlimited IBISWorld access

Family office looking for traditional searchers

Investor seeking Self-Funded Search Deals

2 Best Ways To Find Motivated Sellers, Off-Market Deals

Downsides of "buying a job" below 750k+ EBITDA?

6-7x for a Self-funded Search Deal?

Searchfunder is an online community and toolkit for searchfunds. Over 80% of those involved in searchfunds maintain a Searchfunder.com account to help them network, problem solve challenges, and keep up with the industry.

We maintain partnerships with database providers that make searching more effective, efficient and affordable along with features that help searchers find deals and investors and vice versa.