))
Buying a Business: Tell Your Lender Everything... and we mean EVERYTHING
Manage episode 413197803 series 3351459
Content provided by Apex Business Advisor Podcast. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Apex Business Advisor Podcast or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ro.player.fm/legal.
In this episode of the Apex Business Advisors podcast, Andy and Doug discuss the critical importance of honesty between lenders and borrowers when securing business loans. They examine a recent transaction failure resulting from undisclosed financial issues, highlighting the need for transparency.
The episode delves into potential pitfalls in filling out SBA loan forms and securing commercial financing, citing real-life scenarios such as bankruptcy cases and undisclosed felonies. They also explore how banks scrutinize loan information and interpret profitability matters.
Additionally, the discussion covers types of businesses ineligible for SBA funding and the risks associated with borrowing before closing. They emphasize the importance of viewing the bank as a business partner and fostering trustworthy relationships.
This episode serves as a valuable resource for anyone seeking to secure a business loan, emphasizing the importance of full financial disclosure. For more insights, visit our website at kcapex.com.
100 episoade
Distribuie
