Business Buyers Can Leverage SBA Lending

Finding the money to start your own small business can be a challenge.  Over the decades, countless people have turned to the Small Business Administration (SBA) for help.  In a recent Inc. Magazine article, “Kickstart Your Business Dreams with SBA Lending,” BizBuySell President, Bob House, described how SBA lending can be used to the buyer’s … [Read more...]

6 Big Questions to Ask Yourself Before Selling a Business

The first step towards successfully selling a business is finding a qualified business broker to work with.  Sellers should also ask themselves important questions about their motivations for selling.  Freelance writer Troy Lambert outlines some crucial questions in an article published recently by Unbound Northwest and the Good Men Project. 1. … [Read more...]

How to Create A Business Plan

If you're hoping to borrow money to buy or start a business, you'll probably need a business plan. A business plan, which projects 3-5 years ahead, is your road map for your business. It outlines how a company plans to reach yearly milestones, including revenue projections. A well-thought-out plan also helps a business focus on its key elements … [Read more...]

SBA’s New Partner Buy-Out Rules

Starting April 1, the SBA is changing its rules for financing partner buyouts, and GABB affiliate Susan Kite has provided a more detailed explanation of the changes. Kite, a Vice President and SBA Business Development Officer at Renasant Bank, says that the new SBA rules are designed to prompt borrowers to put more of their own cash money to … [Read more...]

Learn How to Prepare Your Business to Sell-Feb. 26 GABB Meeting

Just before retirement is not the best time to prepare your business to sell for an attractive price. Savvy business owners spend years thoughtfully preparing to transition out of business ownership. UGA Small Business Development Center consultant Daniel McCoy discussed ways that small businesses can prepare for the day when they want to sell … [Read more...]

5 Big Questions to Consider when Financing a Business Sale

How should the purchase of a business be structured?  This is a point that you’ll want to address early in the sale process. For most people, buying or selling a business is one of the most, if not the most, important business decisions that they will ever make. Therefore it is vital not to wait until the last minute to structure your deal. Let’s … [Read more...]

New SBA Loans on Hold During Government Shutdown

Business Buyers and Sellers and their Brokers may face an unusual stall on closing their deals due to the federal government shut down. GABB President Dean Burnette says, "I'm in the final stages of closing a deal right now. Fortunately, our SBA Lender got an authorization number the night before the shut down so we will receive our … [Read more...]

Two Ways to Buy a Business without Collateral

Banks love collateral and for a very simple reason. If you have collateral, then the bank has something it can take if you fail to repay your loan. At its heart, collateral is a remarkably simple concept. However, unfortunately, many people who want to start a business lack it, and it can be difficult to finance a business without collateral.  All … [Read more...]

SBA Lenders Talk About Change of Ownership

Georgia's SBA loan professionals will lead a panel discussion at the Feb. 27 GABB meeting about SBA lending rules and change of ownership requirements. The Georgia Association of Business Brokers, the state’s only association of professionals who work to facilitate the purchase and sale of businesses and franchises, meets at 10:30 a.m. at the … [Read more...]

Brand Bank Chairman to Speak Jan. 30 to GABB

Michael Coles, chairman of Brand Bank and namesake of the Kennesaw State University College of Business, will speak on Jan. 30 to the state's business brokers about principles for success in business. His Jan. 30 speech to the Georgia Association of Business Brokers, the state's professional group for buying and selling businesses, will start … [Read more...]