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I had a Pari Passu loan approved last Friday
I just had another Pari Passu loan approved today
I have two Pari Passu loans going to Loan Commitee on Friday the 26th and another on July 3rd.
And I’m working on three more.
This community is on fire 🔥
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The funny part of this thread @SBA_Ray is that everybody thinks they are an acquisition specialist. It takes a lot of work to become an expert at what it is that you do. Just because you do an acquisition transaction does not make you a specialist.
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What's going on in SBA acquisition lending?
SBA defaults are at the highest point since the great recession. The SBA has taken action. So have lenders. The entire industry is shifting.
In this thread, I discuss the rise and fall of aggressive SBA business acquisition lending 🧵
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Bruce Marks, MBA, CM&AA retweeted
Jun 3
Two hidden ways buyers overpay, and the framework to avoid both, courtesy of @Sam_Rosati and @sbabmarks on today's webinar on Net Working Capital.
Jun 3
Many first-time buyers overpay in two hidden ways, both of which we covered on today's webinar with @sbabmarks on Net Working Capital.
(1) Agreeing to or giving credit for an addback. You're not paying $15K for the addback. You're paying a multiple of $15K. At 4x, that one decision just cost you $60K.
(2) Conceding that the business doesn't need to come with WC. You pay a market multiple AND compensate the seller separately for receivables. You just paid twice for the same asset.
Bruce's framework: "Need determines amount"
The business needs working capital to run. Either it comes with the deal, or you fund it yourself. There is no third option.
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Bruce Marks, MBA, CM&AA retweeted
Jun 3
Today at 12:30 PM ET, we're back at it with @sbabmarks on Net Working Capital. Bruce has closed $550M in loans over the past decade to help buyers and searchers finance lower middle market M&A transactions. If you're under LOI or about to be, we hope to see you there.
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We closed last Friday a loan for my client. That made three loan closings in May.
I have five deals that I am currently working on, three that are in credit and two that will be presented in the next two weeks.
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I’m constantly hearing that it’s difficult for good deals to get done. That has not been my experience.
Deals are getting done. I am continuing to see very strong deal flow.
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Thank you to this SMB community that continues to allow me to join in your journey. Let’s keep it going !!
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Bruce Marks, MBA, CM&AA retweeted
Jun 1
Session 2 of our Summer ETA Webinar Series is this Wednesday with @sbabmarks on Net Working Capital. One of the most misunderstood elements of an SMB deal. Don't miss this one!
Jun 1
Wednesday is Net Working Capital with @sbabmarks, session two of the Summer ETA Webinar Series.
Bruce has closed $550M for searchers and buyers over the past decade and recently ranked in the top 1% as the 15th largest SBA 7(a) lender by the SBA. That's 1,200 transactions worth of pattern recognition on what kills deals at the closing table, and NWC is one of the most common.
We'll walk thorugh how NWC is calculated, negotiated, and financed in a typical SBA-backed deal, including what to watch for at the LOI stage, through diligence, and into close.
If you're under LOI or about to be, this one's well worth the time. See you on Wednesday, June 3 at 12:30 PM ET.
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Bruce Marks, MBA, CM&AA retweeted
May 28
This. Just because someone put it in a CIM doesn’t mean it’s written in stone.
“Just because a broker adds this back in his CIM, doesn’t mean that as a lender, we are going to accept it.”
As I always state, each bank looks at deals differently. Having said that, addbacks are a part of a transaction, of course.
However, an employee who did not work out or who is no longer there, is not an addback.
Why, because the expense was incurred.
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As I always state, each bank looks at deals differently. Having said that, addbacks are a part of a transaction, of course.
However, an employee who did not work out or who is no longer there, is not an addback.
Why, because the expense was incurred.
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Just like any business, our bank has employees. Sometimes employees work out and sometimes they don’t. Just because they don’t, doesn’t mean that we did not incur the expense.
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Just because a broker adds this back in his CIM, doesn’t mean that as a lender, we are going to accept it. In my opinion, nor should you.
OK, I can rest easy because this issue is now off my chest, lol
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Bruce Marks, MBA, CM&AA retweeted
May 27
Honored to have you join next week, Bruce. This is one of the topics that trip up many buyers in the space, and sellers, too. Looking forward to your insights and war stories of course
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I’m very much looking forward to my session with @Sam_Rosati on 6/3/26. Hopefully many of you will join as we discuss working capital
May 27
Excited to announce the SMBootcamp Summer ETA Webinar Series.
Five sessions in June, every Tuesday plus one Wednesday, each one pairing me with a guest expert on a critical piece of the acquisition journey.
- June 2: Deal Flow with @JackieHirsch_
- June 3: Net Working Capital with @sbabmarks
- June 9: Letter of Intent with @SMB_Attorney
- June 16: Financial Modeling with @guessworkinvest
- June 23: Equity Raise with Jacob Hall
Free, live, and open to anyone preparing to acquire a business.
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My bank closed an acquisition transaction 2 weeks ago for one of my clients.
We closed another large acquisition transaction today.
Also scheduled is another closing for next week.
That will make 3 closings for the month of May.
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We all know that it’s not easy to get a transaction across the finish line.
Obviously, deals are getting done and businesses are changing hands.
I have also submitted and have three deals in underwriting right now. All 3 are Pari Passu transactions.
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We have not tightened our credit box. It has been the same over the last several years.
The three G’s of a good deal will always win. Lending to good people, buying a good business, with good strong cash flow is how deals get done.
I am here to help you finance what’s next!
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