Navigating the Pre-LOI Process for Business Acquisitions

The Small Business Administration (SBA) loan program offers acquisition entrepreneurs an incredible opportunity to buy a company with little equity, and on very advantageous terms. Heather Endresen has decades of experience in SBA lending and is now Owner of Viso Business Capital, where she helps searchers in a variety of ways, including finding banks that are most appropriate for their SBA loans. In this episode, Heather explores the ins and outs of these "magical" loans, which differ in important ways from conventional bank loans. She discusses the beauty of SBA loans for first-time buyers, their lack of covenants, the ten-year term, how borrowers might think about the personal guarantee, and more. This is a must-listen episode for anyone considering or in the midst of an entrepreneurship through acquisition journey!