In this episode, I’m joined by Ryan Smith, a former banker and commercial loan officer who founded ThinkSBA to help entrepreneurs receive the capital they need to acquire or grow their business. Nearly all middle market and Main Street business acquisitions are funded using SBA 7(a) financing. Ryan helps clients find the best rates and terms for acquiring a business or franchise, buying out a partner, purchasing equipment or qualifying for commercial mortgage. He prepares buyers for the borrowing process and facilitates the best loan to close an acquisition.
Selling a business is the American dream, the pot of gold at the end of the rainbow, the reward for years of hard work. Successful entrepreneurs make countless sacrifices in hopes that they would someday reap the benefits of their labor and live a new life of vacations, recreation, and prosperity.
You only exit your business once, so you should feel confident passing this milestone. A successful business exit reflects the preparation done beforehand. Failing to plan is planning to fail.
The owner of a privately held company has several alternatives on how to exit their business. In the absence of an exit strategy, events will inexorably dictate the final exit plan. A costly involuntary exit may be caused by death, disability, divorce, disagreement, or distress.
Selling Your Business with David King will help you take control of the sale process and make it positive one.