One of the first questions for many acquisition entrepreneurs is “what can I afford?”.
The goal of the Lab is that our members be as informed as possible about the process of buying a business. A significant challenge we found was that most people don’t feel comfortable asking lenders “hard” questions out of fear of jeopardizing their loan applications. To address this during orientation, we host an ask-me-anything style session with a lending expert who is willing to answer any questions that our members raise. This ensures that our members go into the process with eyes wide open.
During last week’s call, the topic of “what can I afford” was raised. Often one area that is overlooked is the fact that many lenders have a post-close liquidity requirement. In this video, you’ll get another glimpse into the Lab as our advisor, Stephen Speer, CEO of both eCommerce Lending & Focal Point Lending, explains the post-close liquidity requirement.
We’re currently finalizing the roster for the last 2021 cohort which kicks off November 1st. If you’re interested, click below to apply!