Horizon Search Unlocking Dreams: Financial Insights From an Expert Lender - Lisa Forrest | Horizon Search 10
On this episode of Horizon Search podcast, we delve into the world of financing business acquisitions and unlocking dreams with an expert lender. Our guest is Lisa Forrest, Head Sponsor Finance/Search Fund Lending at Live Oak Bank, the number one SBA lender in the United States. Lisa shares her insights and experiences in helping entrepreneurs acquire companies.
Exploring the business acquisitions terrain, we debunk myths about mid-career professionals being late entrants and spotlight the advantages of their solid backgrounds.
Lisa Forrest sheds some light on the recent shifts in SBA lending, including more flexible financing and provisions for partial buy-ins. She guides budding entrepreneurs through the nuances of self-funded versus traditionally funded searches.
With her weekly sessions on SBA's perks, such as lower down payments, Lisa emerges as a beacon for aspiring entrepreneurs. Dive into this episode for vital insights on acquisitions, finance, and the entrepreneurial journey championed by experts like Lisa Forrest.
Live Oak Bank assists traditional searchers, responsible sponsors, and self-funded searchers. Lisa organizes office hours every Wednesday at 8 AM Pacific Standard Time to educate curious newcomers on the vibrant world of self-funded searching.
Key Quotes
- SBA Guarantees: "The idea is that the US. Small Business Administration actually guarantees a portion of the bank lender's loan that they are giving and providing to the business acquirer." 00:02:08 - 00:04:40
- SBA Rule Changes: "They've changed the rules where you still need 10% down on the total project cost. You still need 10% down, but now the buyer's equity can be as low as two and a half percent." 00:08:37 - 00:11:40
- The Future of SBA Loans: "I just see the runway as just being strong. It's going to continue. It's going to have momentum around it." 00:20:59 - 00:22:36
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