Multiple PGs

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by a searcher from University of Miami
in Indianapolis, IN, USA

7mos ago

Multiple PGs

Hi all, I have an opportunity to pursue more than one deal that will realistically close. I spoke with my SBA lender about signing multiple PGs on multiple loans and the response was that it will depend on underwriting and my lender's appetite for risk. Anyone have experience with this and can offer help navigating? Appreciate the help.

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reply by a lender 7mos ago
from University of Missouri in Denver, CO, USA

Agree with your sba lender. I wouldn't say it is impossible, but difficult if you do not have ownership / operating experience. I'd be willing to discuss it if that helps

reply by a professional 7mos ago
from Western Michigan University in Columbus, OH, USA

Banks don’t want you to buy multiple businesses at the same time. It’s a recipe for disaster and they know it. Taking over a business is hard enough, especially if it’s your first business. Integrating two businesses is even harder. Typically they want at least one year between acquisitions. However, there can be exceptions Pick one business, in an industry you know and run that. After you have done that successfully, you can think about buying another.