About This Blog
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Peter Siegel, MBA is a nationally known consultant and author - with over 25 years experience on the topic of selling, buying, and niche financing (the purchase of), small to mid-sized businesses. His clients include: business buyers, business owners/sellers, small business advisors, and business brokers. |
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This Blog contains observations, tips, news, events, and case studies relating to selling or buying a small business. |
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This Blog is ideal for business buyers, business owners, advisors, business brokers & agents. |
Contact Me
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Contact me by phone
at 866-270-6278 |
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Disclaimer
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Opinions expressed on this site do not necessarily represent those of BizBen. |
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Opinions expressed here do not constitute legal advice. Those interested in specific guidance for legal matters should seek competent professional advice. |
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7/2/08
All SBA Lenders are NOT Created Equal
With “sub-prime” entering into the national lexicon and devastating many of the world’s financial institutions, it should not be surprising that there has been a direct affect on Small Business Administration (SBA) lenders as well. Many of these lenders joined in the lending exuberance of their mortgage cousins and are now feeling their pain. Some lenders have backed out of SBA loans altogether, and others tightened their requirements to the point where no one who actually needs the money would qualify to borrow it.
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6/27/08
Seller Expectations With SBA Loan Financing
It is not uncommon for Sellers to get uncomfortable when a Buyer requires a loan to purchase the Seller’s business. Often times Sellers will say “the Buyer is the one getting the loan; why am I the one under the microscope?”
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6/17/08
Upcoming SBA Loan Changes For Business Purchases
The SBA is making major changes to their SOP (Standard Operating Procedure) that guide lenders that use the SBA'a 7(a) and 504 program. I have focused on a few that impact business buyers, sellers, and business brokers that will go into effect on August 1, 2008.
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4/23/08
SBA Sets 45 Day Extension To Effective Date Of SOP Changes
The U.S. Small Business Administration has agreed to a request from lenders that participate in the agency’s small business loan programs for a 45-day extension to the effective date of its modernized Standard Operating Procedure for lender and development company loan programs.
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9/27/07
SBA Loan Size Standards Kill RV Dealership Purchase & Financing
Today I received a call from a potential business buyer who had industry experience was trying to buy a RV dealership and needed financing to complete his transaction. In the eyes of the SBA his small business was too big to qualify for business purchase financing.
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9/25/07
Loans To Buy Business Tip: Collateral On Loan
Todays Loans To Buy Business Tip: Collateral On Loan - SBA loans require personal guarantees, and the security interests in the assets, if the business assets do not provide adequate collateral. BizBen viewers rated a Curves franchise business, a restaurant company, and an edible arrangements listing as some of the more popular California businesses for sale that were listed yesterday on BizBen.com.
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2/19/07
Getting a SBA Small Business Loan To Buy A Business
Peter Siegel, MBA presents his SBA loan webinare on getting an SBA loan to buy a business. Most business buyers in California utilize some sort of financing to buy a business. It's a myth that SBA loans take too long. With the right preparation, it's possible to get a SBA loan within 30-45 days! This webinar tells you what you need to know about SBA loans.
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12/21/06
SBA Numbers on California Small Businesses
The SBA recently released a report on outstanding debt for small businesses. California follows the national trend - the smallest businesses have the most debt.
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