Letter of Credibility Template?

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October 05, 2020

by a searcher from University of Notre Dame in Cambridge, MA, USA

Hi Community, I am looking for an investor interest letter/ letter of credibility template ie something I could show brokers I have money and can close a deal. As a self-funded searcher, this seems like one of the downsides other self-funded searchers might be able to help me out with.

Thanks.

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Reply by a searcher
from The University of Michigan in Ann Arbor, MI, USA
^redacted‌ - Great question. Given that I'm responding to this post a few months late, I am curious if you've had success with using this approach. I know of some professional investors using a fundless sponsor model, but they've been doing transaction work for sometime and have the associated credibility to talk with owners/brokers without seasoned funds. It seems like a comfort letter or credibility letter from equity/debt investors could help to bridge the gap.
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Reply by a searcher
from University of Texas in Houston, TX, USA
You might reach out to Bruce Marks at First Bank of the Lake. He did a helpful presentation on Searchfunder a couple weeks ago about SBA loans for search funds. Since I'm interested in a self-funded search too, I asked him about how to show brokers and sellers that you can actually close a deal even though you don't have committed capital. Bruce said he's open to talking with searchers early in the process about getting a letter of interest to help with exactly this issue.
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