Lisa Forrest, a regular guest of ours given how often the SBA changes their rules, joins John for a fun episode.
We cover over 30 items on business acquisition loans (emphasis on SBA loans) with Lisa answering "Myth or Fact" for each one When there are nuances, she goes into detail. Some of the 30+ are:
- All seller notes have a standby period
- The buyer can use a HELOC for their down payment
- Investors owning under 20% don’t have to personally guarantee the buyer’s loan (a few nuances here)
- An SBA loan can have a claw back
She clarifies a lot of rumors, many of them myths, and anybody thinking of buying or selling a business (or advising clients on it) needs to listen to this.
John Martinka
Jessica Martinka
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Martinka Consulting's Getting the Deal Done Podcast