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The $16M Golf Cart Business That Refuses SBA Loans
Mar 25, 2025
Explore the intriguing case of a $16M golf cart dealership in Virginia Beach, where the dream of owning a thriving business clashes with hidden challenges. The hosts uncover issues like ineligible SBA loans, unclear financials, and a seller juggling too many side gigs. They also highlight the allure of lifestyle businesses in resort towns and the complexities of valuing a venture with questionable cash flows. Tune in for cautionary insights on recognizing when a glamorous opportunity may not be what it seems.
27:33
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Quick takeaways
- The seller's refusal of SBA loans raises concerns about financial transparency and potential undisclosed issues affecting the business's profitability.
- Despite its strong revenue and appealing lifestyle, the complexity of ownership and vague financials pose significant challenges for potential buyers.
Deep dives
Complex Seller Dynamics
The complexity of the seller’s situation in this golf cart and vehicle rental business is a significant factor to consider. The seller prefers not to accept SBA loans, which raises questions about the legitimacy of financial practices and potential undisclosed issues regarding the business's profitability. This aversion to SBA financing may indicate that the financials are not in order, hinting at possible cash transactions that could complicate a buyer's assessment of the actual revenue and expenses. Additionally, the owner’s involvement in various other business ventures adds to the intricacy, making it difficult to evaluate the true performance and value of this business.
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