How to Get Approved for an SBA Loan to Buy a Business-April 25 GABB meeting

You've either got a business to sell, or want to buy a business. So getting an SBA loan may be the key to closing the deal. How do you make sure that the loan is approved, whether you're the buyer or the seller? On April 25, a panel of SBA lenders convened at the Georgia Association of Business Brokers meeting. Susan Kite, Vice President of … [Read more...]

SBA Lenders Offer Advice on Getting Loans Approved

If you want to get an SBA loan to buy or sell a business, get the information to lenders early, be honest up front about potential problems, and expect to pledge assets, including a home, to secure the loan. That advice highlighted the presentation by veteran SBA lenders to the Georgia Association of Business Brokers on April 26. Bob … [Read more...]

Don’t Want to Get Sued? Come to GABB on Tuesday, Feb. 23

Lawrence Domenico is the kind of lawyer you hire when you litigate, or sue someone. And he's represented a lot of Georgia business brokers in disputes over the years. On Tuesday, Feb. 23, Larry will offer advice worth hundreds, if not thousands, of dollars to members of the Georgia Association of Business Brokers and their guests. Namely, how … [Read more...]

How to gain and keep customers, and other advice from a Selling Expert

For business brokers or other solo professionals, the most valuable resource is your time. Outsource, outsource, outsource, was the recommendation of Christopher Lemley, the director of the Georgia State University Professional Selling and Sales Leadership Program, who spoke on Tuesday, Jan. 26, to the Georgia Association of Business … [Read more...]

Nine Steps to Better Due Diligence, Closing Deals

Third in a series on Business Brokering Buyer and seller strike a deal, but a thorough due diligence and either seal or sink that deal. Georgia Association of Business Brokers Vice President Mike Ramatowski moderated a panel discussion at the July meeting on getting buyers and sellers through due diligence and to the closing table. … [Read more...]

Four Questions about Business Valuation & SBA Funding

By Kim Eells, Vice President, The Brand Bank  & Susan Kite, Vice President, Signature Bank of Georgia 1. When is a Business Valuation Required? If the purchase price of the business less the appraised value of real estate/equipment is over $250,000 or your deal is not an arms-length transaction or if the bank requires for comfort; … [Read more...]

Questions Business Owners Ask & Answers I Give Them

Questions Business Owners Ask & Answers I Give Them Veteran business broker Loren Marc Schmerler, a member of the board of the Georgia Association of Business Brokers and president of Bottom Line Management, Inc., offers his advice for answering common questions asked by business owners. How much is my business worth? The correct answer … [Read more...]

Why Buy a Franchise?

By Mark Jones, Franchise Systems Advisors404-444-3186   Owning a business is part of the American dream and owning a franchise can make that dream a reality for many people who otherwise wouldn’t have the opportunity. People are attracted to franchises because the best ones have proven to be extremely successful over the years. They combine many … [Read more...]

Using Pratt’s Stats To Sell More Businesses

One obstacle to selling a business is an unrealistic asking price. GABB members can obtain access to Pratt’s Stats which can help sell more businesses by helping to price a business accurately. While Pratt's no longer offers GABB members complimentary access, if a broker submits the details of a sale, they can obtain access to the database for a … [Read more...]

The Truth about Powers of Attorney

By Germaine Curtin What exactly is a power of attorney?  Does it give me the same power as if I were a lawyer?  Do I become an attorney? What exactly does it allow me to do? Most people believe they understand powers of attorney, but many people are wrong. A power of attorney is simply a signed document that gives another person (the … [Read more...]