Next Steps when a Seller asks for Proof of Funds

April 01, 2025
by a searcher from University of Texas at Austin in New York, NY, USA
Hey folks,
I’ve had a couple of exploratory calls with a Seller of a potentially viable business which I have sourced off market and I had a couple of questions.
So as a next step, my business partner and I asked for their CIM but before they go about creating the CIM, they wanted to see a proof of funds from us.
Since we’re both going in as###-###-#### partners, and bringing in SBA support, are the following documents enough to provide as a total package back over to the Seller?
- Proof of funds from my bank account & brokerage accounts
- Proof of funds from my business partners’ bank account and brokerage accounts
- SBA Pre-approval letter
Am I missing any further documentation? Would they basically need to see as a total package, is there enough funds to cover the total price of the business? They didn’t mention the price of the business on the call, but we have a ball-park, high level estimate, so should we clarify that in an email as well?
from New York University in New York, NY, USA
in Falmouth, MA, USA