Owned and Operated - A Plumbing, Electrical, and HVAC Business Growth Podcast

#207 SBA Loan Strategies for Acquiring a Business | Expert Advice

Jun 6, 2025

Alan Peterson, an SBA lender at First Internet Bank with over $70 million in acquisition financing last year, shares invaluable insights for aspiring business buyers in the home service sector. He breaks down effective strategies for leveraging SBA loans, the recent changes in SBA guidelines, and the importance of having a strong deal team. Listeners will learn about avoiding common pitfalls, structuring multi-step acquisitions, and the significance of personalized financial statements in making a lasting impression on lenders.

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INSIGHT

Home Services Are Recession Resistant

Home service businesses offer stable, recession-resistant cash flow from day one.
These businesses meet essential needs, making them attractive for acquisition via SBA loans.

ADVICE

New SBA Rules on Seller Equity

Seller equity retention now requires stock sale and 24-month personal guarantee.
Buyers should understand this change impacts multi-step acquisitions and seller involvement.

ADVICE

Use Third-Party License Strategy

Find a qualified third party to hold licensure and a minority equity stake.
This approach avoids personal guarantees and complies with SBA licensure requirements.

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Thinking about buying a home service business with an SBA loan? This episode is your go-to guide. Jackquisitions sits down with Alan Peterson—who closed over $70 million in SBA acquisition financing last year—to break down how to structure high-leverage deals, navigate the latest SBA loan rule changes, and avoid the costly mistakes many first-time buyers make.

If you're serious about acquiring a home service business and want a financing strategy that actually works, this episode is a must-listen.

🔹 In This Episode, We Cover:

How to use SBA loans to buy your first home service business
The $70M+ playbook Alan used in 2024 for acquisition funding
Why having the right deal team is critical (and what to avoid)
The latest changes to SBA rules (including seller note restrictions)
Multi-step acquisitions: what just got harder and why
Pro tips for working capital, due diligence, and pre-LOI strategy
How early-stage buyers can stand out and get taken seriously
Why personalized financial statements are a game changer
How Alan helps operators with pre-qual letters and deal reviews

🌐 More resources: https://www.ownedandoperated.com

👤 Hosted by:

Jack Carr

🎧 Guest:
Alan Peterson

💼 Special Thanks to First Internet Bank!

Looking to buy or expand a business? First Internet Bank is a National Preferred SBA lender specializing in acquisitions for the skilled trades. Their SBA loan program offers up to 90% financing for business acquisitions, partner buyouts, and commercial real estate—plus optional lines of credit to fuel future growth. Unlike traditional lenders, they take a “how can we” approach, making deals happen for both first-time buyers and experienced operators.

👉 Special Offer: Mention Owned and Operated for a reduced good faith deposit and a complimentary deal review + buyside prequalification.

Connect with Alan Peterson from First Internet Bank here to get started

💼 Shoutout to Appletree Business Services

HVAC and plumbing pros—ditch tax surprises and unresponsive accountants. Appletree handles your books, taxes, payroll, and acquisitions, and they know tools like ServiceTitan cold.

🎁 Get a free tax & financial review or 10% off a QOE report.

👉 Book a call at appletreebusiness.com — tell Patrick Jack sent you.

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John Wilson, CEO of Wilson Companies
Jack Carr, CEO of Rapid HVAC

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