Bruce Marks, MBA, CM&AA @sbabmarks
SMB & SF Acquisition Lender | Author | Closed $400 Million in 9 yrs| SBA loans from $2.5 - $10.0 million | tweeting real SBA stories | War Story Saturday 🪖 Joined April 2022-
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That’s why the work itself has to be enjoyable and fulfilling
That’s why the work itself has to be enjoyable and fulfilling
A business has so many folks counting on its success. It has to service many like; Your salary Bank loan (if applicable) Seller note (if applicable) Your landlord Your employees Vendors IRS - taxes Lots of folks pulling on the purse strings!
@sbabmarks @WillSeilerSMB @SMB_Attorney @KrissBergTweets @CLouvi @SBA_Matthias @ryanraysr Bruce always to the rescue!
Correct. I have closed several transactions this year that had an enterprise value of $10,000,000.
Correct. I have closed several transactions this year that had an enterprise value of $10,000,000.
You heard it! And from one of the most reliable sources I know.
You heard it! And from one of the most reliable sources I know.
@sbabmarks Even at ten % equity I still don’t think it works. When a seller is working with an SBA buyer why do they Even consider this multiple as realistic? Often you see listings at valuations like this. Literally does not work unless someone brings a ton of money.
Yes they are, but people are constantly reaching out to me paying them. Then asking me if the deal will pencil.
Yes they are, but people are constantly reaching out to me paying them. Then asking me if the deal will pencil.
Thanks @noahkim21 This will work in the lower 3X - 3.5X. Also depends upon if working capital is left in the deal.
Thanks @noahkim21 This will work in the lower 3X - 3.5X. Also depends upon if working capital is left in the deal.
If you’re thinking of submitting an LOI based on a 4.5X to 5X Multiple Don’t think that your deal will pencil at 10% Seller Note AND 5% Equity. It won’t!
@sbabmarks Top of the morning reminder that each and every one of us truly matter. Sometime we only realize that too late in life, well said Bruce, both for business and for life
This resonates with me. Why, because I strive to be impactful in the Search Fund Community. Thank you to all that follow and trust me as your lending partner @sbabmarks
SoCal ETA Meet Up There’s only a few spots open Register today to guarantee your participation Registration link below 👇🏻 @sbabmarks
SoCal ETA Meet Up There’s only a few spots open Register today to guarantee your participation Registration link below 👇🏻 @sbabmarks
On the way to Disney yesterday I had 2 Searcher calls. Evidently my granddaughter was listening in. this morning she said to me, Gramps, I didn’t know a person could buy a $3 million dollar business with so little money down. A future Searcher for sure!
I heard this and say this now every day when speaking with buyers: Upside in theoretical Buy a really good business, mitigate the risk and implement your strategies! This will lead to success!
This is what it’s all about !
Six months ago… a lawyer, a banker and a client. Now, friends. Cc: @SuccessWithJake, @sbabmarks
@sbabmarks @MrJoshFro I saved a shipper 125k this week, looking at your tweet I feel like a slacker now ;-)! Keep crushing it!
SMB Attorney @SMB_Attorney
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@sbabmarks I don't agree You need a work that make you feel alive and enjoy it.
@sbabmarks I prefer to think of it as a part of life. Same as raising kids. You can’t put a price or time spent on it. Even if after they become adults they won’t be around. It’s our legacy. Paying it forward.
That’s why the work itself has to be enjoyable and fulfilling
This really puts things in perspective: You work 8 hours to live 4 You work 5 days to enjoy 2 You work 8 hours to eat in 15 minutes You work 8 hours to sleep 6 You work all year just to take a 2 week vacation You work all your life to retire in old age
@sbabmarks We’re here to work, work is not the issue, the issues come from what the work is.
@sbabmarks Credit card processors Common area maintenance companies (brick and mortar) Property taxes (brick and mortar) POS company Advertising companies Personal property taxes on assets Accountants Any inspectors for departments who fine A couple percent can make or break margins
@sbabmarks This underscores the importance of enjoying what you do and who you do it with!
@sbabmarks have you ever seen banks make equity investments in SMB acquisitions ?
@sbabmarks @WillSeilerSMB @SMB_Attorney @KrissBergTweets @CLouvi @SBA_Matthias @ryanraysr Bruce always to the rescue!
@sbabmarks @WillSeilerSMB @SMB_Attorney @CLouvi @SBA_Matthias @ryanraysr Nice thank you
@sbabmarks @WillSeilerSMB @SMB_Attorney @KrissBergTweets @SBA_Matthias @ryanraysr Thank you! This is how we’re modeling with industry specific search investors as as a strategic add-on.
@SMB_Attorney @KrissBergTweets @CLouvi @SBA_Matthias @sbabmarks @ryanraysr I understand in theory, but possibly Bruce could share a simple example?
@CLouvi @SBA_Matthias @sbabmarks @ryanraysr @SMB_Attorney is right. The right language now is $5M SBA 7(a) limit per the first three digits of a particular NAICS Code (for those who qualify). In addition, the SBA 504 loan program goes up to $16.5M through the Green Program. Add in the fact @sbabmarks is perfecting the…
If you have a negative net worth or a sub 680 credit score, you will likely need another guarantor / signer on your sba loan to get approved for funding by any good bank
@SMB_Attorney @SBA_Matthias @sbabmarks @ryanraysr Ah got it! Thank ya.
@CLouvi @SBA_Matthias @sbabmarks @ryanraysr It practically has been with many lenders offering pari passu loans.
You heard it! And from one of the most reliable sources I know.
If you’re thinking of submitting an LOI based on a 4.5X to 5X Multiple Don’t think that your deal will pencil at 10% Seller Note AND 5% Equity. It won’t!
I’ve done the math, this checks out 😂 Doesn’t mean you can’t do the deal, just need more equity and/or seller notes with full standby and/or forgiveness.
If you’re thinking of submitting an LOI based on a 4.5X to 5X Multiple Don’t think that your deal will pencil at 10% Seller Note AND 5% Equity. It won’t!