Is anyone doing SBA 7a Acquisition deals?

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April 08, 2020

by a searcher from Pepperdine University - Graziadio School of Business and Management in Boise, ID, USA

I had a deal that was supposed to close last week with a regional SBA lender who killed the deal at the 11th hour, citing bank concerns over the Corona virus - in the same email with the declination, they immediately suggested I apply for their PPP program.

It's a small deal ($225k) but a very good multiple and would have normally been a slam dunk. Is anyone else seeing SBA lenders back off 7a/acquisitions right now?

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Reply by a searcher
from Pepperdine University in Boise, ID, USA
To add insult to injury, they told me (in writing) they would refund my $2k deposit, then changed their mind a few days later and refused. I’m an existing client too - which will also change.
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Reply by a searcher
from Hampden in Atlanta, GA, USA
I am as well. The same bankers that are do the 7a loans are also doing the PPP loans.
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