SBA APPOVED ???

by a searcher from University of Dundee

4 years ago

Is there anything like a company for sale being SBA APPROVED?  Come across companies where the Seller/Broker would often state this ... does anyone have experience around this ... is such a statement TRUE?

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professional from The University of Michigan - Stephen M. Ross School of Business

Celestine, I'm a business broker. An SBA lender I work with outlined several of the criteria (this is not an all- inclusive list) of the factors they look at when evaluating a buyer. They include credit score, direct industry experience, buyer financials, and secondary source of repayment (e.g. income from a spouse). It is a financing tool that can help get a deal done for the right business/buyer combination.

4 years ago | like reply | 0 likes

intermediary from University of Richmond

SBA Pre-Qualified means that a SBA backed lender has taken a first look at the business and believes that it would consider providing a business acquisition loan to a qualified Buyer. Not a guarantee that the lender will be able to provide the SBA backed loan until a thorough assessment of buyer/s qualifications and complete review of documents required for funding is finished and approved. Brokers and intermediaries market the SBA Pre-Qualified as a means to attract more potential buyers to opportunities.

4 years ago | like reply | 0 likes

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