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- What is an SBA Loan | Let's Buy a Business
What is an SBA Loan | Let's Buy a Business
Heyo,
I have a friend that is all-in on buying a company. He quit his job and is treating his search like a full-time job. He's searching locally for a service-based company.
He has looked at probably 10 off-market deals in a month.
Here is what he's doing differently.
1. Networking like crazy. He talks to everyone. He's LET EVERYONE know in his personal network that he's looking for a company. He now has everyone looking at him.
He posts constantly on LinkedIn and social media about his search. You can't do this if you have a job/boss that you can't tell you want out. Not everyone can do this but this is a massive advantage.
2. Talking to all brokers. This is obvious but put the reps in.
3. Meeting with as many owners as possible in any industry. They refer him to other owners. It's this spiderweb of owners.
Owners hang out with Owners. That's it.
4. Rounding out his learning. He knows he lacks certain areas to evaluate companies. He's bringing people on board to fill in his gaps.
He's full of energy right now. He's about to get punched in the mouth because that's what search does.
He's also going to rock it.
How to Buy Your First Small Business through Acquisition Entrepreneurship
What is an SBA Loan
Stephen is an OG in the lending space, especially for online businesses. He knows how these businesses operate which is rarer from lenders.
He's a legend in that he understands online businesses and how to lend to them. Stephen dives into all things SBA loans. Even if you don't want an SBA loan, you won't want to miss this episode. But now he has something he's been working on for 7+ years which is how to fund businesses in the $5M - $20M range.