How to Buy a Boring Service-Based Business Using an SBA 7a Loan
How to Buy a Boring Service-Based Business Using an SBA 7a Loan
In this episode called "How to Buy a Boring Service-Based Business Using an SBA 7a Loan," Beau discusses the process of purchasing a service-based business using an SBA 7a loan. The term "boring service-based business" refers to businesses that offer services that are in high demand, but not particularly glamorous, such as accounting firms, HVAC companies, and commercial cleaning services.
These types of businesses are considered a good investment opportunity due to their low overhead costs, predictable cash flow, and potential for scalability. The SBA 7a loan program offers financing to small businesses that meet certain eligibility requirements, and it is an ideal option for purchasing a boring service-based business due to longer repayment terms and lower down payments than traditional banks.
The video breaks down the process of purchasing a boring service-based business using an SBA 7a loan into six steps: finding a business, determining its value, negotiating the deal, working on the SBA 7a loan, closing the sale, and evaluating the acquisition. The process involves conducting research on the industry and market trends, analyzing financial statements, assessing the quality of the assets and customer base, and negotiating the purchase price and terms of the sale.
Once the loan is ready to fund, the sale is closed, and ownership is taken over, key meetings with personnel are conducted to evaluate the business acquisition. Overall, the video provides a helpful guide for individuals interested in purchasing a boring service-based business using an SBA 7a loan.
Are you a real estate investor or business owner looking to expand? Book a discovery call with Beau to learn all the ways he can help you - https://investorfinancingpodcast.com/rumble
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💥 Thanks for watching 💥
#sba7a #servicebasedbusiness
About Beau: Beau Eckstein is a real estate entrepreneur, TV personality, and commercial mortgage advisor, specializing in construction financing and multi-family lending.
🎥 The video interviews we do on IFP will help you scale your real estate business and learn how to finance all your projects.
About the Channel: Want to structure your investments in the right and secure way?
Learn great insights and make the right decisions through the Investor Financing Podcast hosted by Beau Eckstein.
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